Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Oil prices rose by nearly 1% in early Thursday trading after U.S. President Donald Trump announced that Indian Prime Minister Narendra Modi had agreed to stop purchasing oil from Russia, a move that could significantly impact global energy markets. Russia currently supplies around one-third of India’s oil imports.
Brent crude futures gained 57 cents, or 0.9%, to $62.48 per barrel, while U.S. West Texas Intermediate (WTI) crude rose 54 cents, or 0.9%, to $58.81. Both benchmarks had previously hit their lowest levels since early May, weighed down by ongoing U.S.-China trade tensions and concerns about a potential global supply surplus next year. The International Energy Agency (IEA) recently warned that rising output from OPEC+ members and non-OPEC producers, combined with slowing demand, could lead to an oversupplied market in 2025.
Trump stated that after India’s decision, Washington would seek similar commitments from China to further limit Russia’s energy revenues. India and China have been Moscow’s largest oil buyers since Western sanctions were imposed over the war in Ukraine. Despite months of U.S. pressure, India had defended its Russian oil purchases as necessary for maintaining national energy security.
“This is a positive development for oil prices at the margin, as it removes one of Russia’s biggest crude buyers,” said Tony Sycamore, market analyst at IG.
Investors are now closely monitoring upcoming U.S. Energy Information Administration (EIA) data after mixed figures from the American Petroleum Institute (API). API data showed U.S. crude stocks rising by 7.36 million barrels and gasoline inventories increasing by 2.99 million barrels, while distillate supplies fell by 4.79 million barrels for the week ending October 10. Analysts expect EIA data to show a smaller crude build of around 0.3 million barrels, suggesting U.S. demand remains relatively weak despite lower distillate inventories.
