Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Oil prices climbed in Asian trading Tuesday after the U.S. imposed fresh sanctions targeting Iran’s oil sector, raising concerns over potential supply disruptions.
Brent crude futures rose 0.6% to $75.19 per barrel, while West Texas Intermediate (WTI) gained 0.7% to $70.92.
The U.S. Treasury Department’s latest sanctions target over 30 entities and individuals involved in Iran’s oil supply chain, including brokers and tanker operators in the UAE, Hong Kong, and China. This move intensifies Washington’s pressure on Tehran, aiming to curb its petroleum exports, particularly to major buyer China. Treasury Secretary Scott Bessent warned of severe sanctions risks for those dealing in Iranian oil.
Oil markets reacted with modest gains as investors weighed the impact of these restrictions on global supply. However, uncertainty lingers as geopolitical shifts may counteract bullish sentiment.
Possible cease-fire agreements between Russia-Ukraine and Israel-Hamas could ease supply concerns, offsetting price gains. Meanwhile, OPEC+ is reportedly reconsidering plans to ramp up production due to weak demand and growing non-OPEC supply. Originally set for April 2025, production hikes have been repeatedly delayed, supporting prices.
Despite these factors, analysts project the global oil market to return to surplus next year, potentially driving prices lower. Additionally, the resumption of Iraqi oil exports from the Kurdish region may further influence market dynamics.
With heightened geopolitical tensions and shifting supply-demand forces, the oil market remains volatile, keeping investors on edge.
