Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Rising fuel prices linked to the Iran conflict are accelerating demand for both new and used electric vehicles (EVs) across Europe, according to industry data shared with Reuters. While automakers are benefiting from increased consumer interest, some executives caution that the trend could weaken if gasoline and diesel prices decline.
The recent disruption to global oil supplies has pushed fuel costs higher, encouraging many drivers to consider electric vehicles as a cost-effective alternative. Although the United States and Iran have agreed to an extended ceasefire, shipping challenges in the Strait of Hormuz continue to affect oil transportation, keeping fuel prices elevated and supporting EV adoption.
Data from research group New Automotive and industry association E-Mobility Europe showed that new EV registrations increased by 34% year-over-year in May across 17 European markets, representing more than 90% of car sales in the European Union and European Free Trade Association. Fully electric vehicles accounted for nearly 25% of all new vehicle registrations during the period.
Automakers report growing interest from consumers. Renault CEO Francois Provost said the company’s EV order book has risen by as much as 50% in certain markets since the conflict began. Ford Europe chief Jim Baumbick also noted stronger customer interest in electric vehicles, although he warned against assuming the increase will be permanent.
The European EV market is also benefiting from a wider selection of affordable models. Chinese automakers are expanding their presence by introducing lower-cost electric cars tailored to European consumers. BYD recently unveiled its Dolphin G hatchback in Berlin, further intensifying competition in the region.
Demand for used EVs is strengthening as well. Online marketplace OLX reported that sales inquiries for Chinese electric vehicle brands in France increased more than fourfold compared with a year earlier. Carwow Germany said EV-related purchase inquiries have stabilized between 70% and 75%, significantly higher than earlier this year.
Industry experts believe the growing availability of affordable new and used electric vehicles, combined with improved charging infrastructure, will continue to support EV sales across Europe. Despite uncertainty surrounding future fuel prices, analysts expect the electric vehicle market to remain resilient and maintain its long-term growth trajectory.
