Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Oil prices jumped over 2% on Tuesday as escalating Iran-Israel conflict stoked fears of supply disruption in the Middle East. Brent crude rose $1.17, or 1.6%, to $74.40 a barrel, while U.S. West Texas Intermediate (WTI) crude climbed $1.34, or 1.87%, to $73.11 by 0005 GMT. Both benchmarks had earlier surged more than 2% in intraday trading.
The spike followed a sharp reversal from Monday’s losses, when oil dropped over 1% on hopes of de-escalation after reports that Iran was seeking peace. However, tensions soared again as explosions and air defense activity were reported in Tehran, and Israeli air raid sirens sounded in Tel Aviv amid Iranian missile attacks.
Former U.S. President Donald Trump called for "everyone" to evacuate Tehran, further fueling market anxiety. Trump also criticized Iran for not signing a nuclear agreement sooner and suggested the country now seeks to reach a deal. Analysts believe any future deal that lifts U.S. sanctions could lead to increased Iranian oil exports, which might put downward pressure on prices.
Iran, OPEC’s third-largest oil producer, plays a critical role in global supply. Ongoing hostilities pose a serious threat to output, adding risk premiums to crude prices.
Meanwhile, OPEC and allies including Russia, collectively known as OPEC+, stated they expect the global economy to remain resilient in the latter half of 2025. However, they slightly reduced their forecast for oil production growth from non-OPEC+ countries through 2026.
With geopolitical risks rising and market volatility high, oil traders are closely monitoring developments in the Middle East, especially concerning Iran’s export capacity and potential diplomatic breakthroughs.
