Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Oil prices held steady on Friday after a more than 1% drop in the previous session, as traders weighed the impact of newly announced U.S. tariffs and potential disruptions to Russian crude exports.
Brent crude futures inched up 0.06% to $71.74 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 0.01% to $69.27 by 1201 GMT. Despite the flat movement, Brent is on track to gain 4.9% for the week, with WTI set for a 6.4% weekly rise.
The rally earlier in the week followed U.S. President Donald Trump’s threat to impose 100% secondary tariffs on nations purchasing Russian oil, specifically targeting China and India. Analysts warn such measures could disrupt up to 2.75 million barrels per day of Russian seaborne exports, potentially tightening global supply.
Attention shifted Friday to Trump’s broader tariff move. The president signed an executive order raising import duties to between 10% and 41% on dozens of trading partners, including Canada, India, and Taiwan, effective August 1. These higher tariffs could weigh on global economic growth and dampen fuel demand by driving up consumer prices.
Recent U.S. inflation data already shows price pressures from earlier tariffs, particularly in imported goods like furniture and recreation products. Rising inflation is expected to delay any Federal Reserve interest rate cuts until at least October, maintaining higher borrowing costs and limiting growth — factors that could restrain oil consumption.
While tariffs raise concerns over demand, fears of supply disruption from potential sanctions on Russian crude continue to provide upward support for oil markets, keeping prices volatile amid escalating geopolitical and trade tensions.
