US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Oil prices remained largely unchanged early Thursday after closing at two-week lows in the previous session, weighed down by sluggish demand and an ongoing global supply glut. Brent crude futures edged up by just 2 cents, or 0.03%, to $63.54 a barrel at 0127 GMT, while U.S. West Texas Intermediate (WTI) futures held steady at $59.60 per barrel.
According to J.P. Morgan, global oil demand has risen by 850,000 barrels per day (bpd) so far this year, slightly below the bank’s earlier projection of 900,000 bpd. The firm noted that “high-frequency indicators suggest U.S. oil consumption remains subdued,” citing weak travel activity and reduced container shipping volumes as contributing factors.
In Wednesday’s session, oil prices dropped further after the U.S. Energy Information Administration (EIA) reported a larger-than-expected rise in crude inventories. U.S. crude stocks increased by 5.2 million barrels last week to 421.2 million barrels, far exceeding expectations for a modest 603,000-barrel gain. This unexpected build-up added to concerns about oversupply in the market.
Capital Economics predicted that downward pressure on oil prices will persist into the coming years. The firm expects Brent crude to average $60 per barrel by the end of 2025 and fall further to around $50 by the end of 2026.
Global oil prices declined for a third consecutive month in October, as fears of an oversupplied market continued to intensify. The Organization of the Petroleum Exporting Countries (OPEC) and its allies have been ramping up production, while non-OPEC producers also maintain robust output levels.
With weak global demand and rising inventories, analysts anticipate that oil markets will remain under pressure, keeping prices volatile in the near term.
