ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Oil prices remained flat in Asian trading on Tuesday as investors awaited the upcoming OPEC+ meeting for clarity on future output. The market saw low activity due to public holidays in the U.S. and U.K. on Monday.
Brent crude futures for July delivery inched up 0.1% to $64.77 per barrel, while West Texas Intermediate (WTI) crude held steady at $61.53 per barrel as of 00:58 GMT.
Prices were supported by U.S. President Donald Trump’s decision to postpone his proposed 50% tariffs on European Union imports, shifting the deadline from June 1 to July 9. This move offered temporary relief to global trade tensions, which often impact oil demand forecasts.
All eyes are now on the upcoming OPEC+ meeting, which was reportedly rescheduled to May 31. The alliance, including the Organization of Petroleum Exporting Countries and its allies, is expected to discuss a potential supply boost. Reports suggest a possible output increase of 411,000 barrels per day in July, though no agreement has been finalized. OPEC+ has already begun unwinding previous production cuts with incremental increases in May and June.
Analysts at ING noted that an additional 411,000 bpd rise in July could keep the oil market well-supplied through the second half of the year.
Meanwhile, geopolitical tensions intensified as Trump criticized Russian President Vladimir Putin for escalating attacks on Ukraine, calling him “absolutely CRAZY.” Trump hinted at imposing new sanctions on Russia, which could disrupt Russian energy exports and tighten global oil supply. Heightened tensions between Russia and the West remain a key risk factor for crude markets.
Investors continue to monitor both the OPEC+ decision and potential U.S. sanctions for their impact on oil prices.
