Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Oil prices climbed during Asian trading on Friday, driven by growing concerns over a prolonged U.S.-Iran conflict and ongoing disruptions in the Strait of Hormuz. Market sentiment remains tense after U.S. President Donald Trump stated he is in no hurry to reach a resolution with Iran, fueling uncertainty in global crude supply.
Brent crude futures rose 1.1% to $106.27 per barrel, while West Texas Intermediate (WTI) crude increased 1% to $96.83 per barrel. Both benchmarks are on track for significant weekly gains, rising between 15% and 18%, as geopolitical risks continue to impact the oil market outlook.
Crude prices saw a sharp increase earlier this week following reports of airstrikes targeting areas in and around Iran. Additional pressure came after news that Iran’s lead negotiator in Pakistan-mediated talks with Washington had stepped down, signaling further complications in diplomatic efforts. President Trump reiterated that while he is open to negotiations, he does not intend to rush into an agreement, though he dismissed the possibility of using nuclear weapons.
Tensions have intensified as both the U.S. and Iran remain at a stalemate over key conditions. Iran has demanded the removal of a U.S. naval blockade, while Washington insists on the full reopening of the Strait of Hormuz. This vital shipping route previously accounted for nearly 20% of global oil supply, making its disruption a major concern for energy markets.
Recent incidents in the region, including Iran’s reported seizure of vessels and U.S. counteractions, have heightened fears of further supply chain disruptions. Despite a temporary ceasefire extension involving Israel and Lebanon, markets remain focused on the broader conflict and its implications for oil production and transportation.
With no clear path toward de-escalation, crude oil prices are likely to remain volatile, as investors closely monitor developments in the Middle East and their potential impact on global energy supply.
