U.S. Stock Futures Edge Lower as Tech and AI Stocks Drag Wall Street Ahead of Key Earnings 
Gold, Silver, and Platinum Rally as Precious Metals Recover from Sharp Selloff 
Japan Services Sector Records Fastest Growth in Nearly a Year as Private Activity Accelerates 
Dollar Steady as Fed Nomination and Japanese Election Shape Currency Markets 
Asian Currencies Strengthen as Indian Rupee and Australian Dollar Rally 
Trump Announces U.S.–India Trade Deal Cutting Tariffs, Boosting Markets and Energy Ties 
Japan’s Agricultural, Forestry and Fishery Exports Hit Record High in 2025 Despite Tariffs 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
Trump Administration Sued Over Suspension of Critical Hudson River Tunnel Funding 
Asian Markets Wobble as AI Fears Rattle Stocks, Oil and Gold Rebound 
Gold and Asian Stocks Rebound as Market Volatility Eases and Global Sentiment Improves 
Stephen Miran Resigns as White House Economic Adviser Amid Federal Reserve Tenure 
Taiwan Urges Stronger Trade Ties With Fellow Democracies, Rejects Economic Dependence on China 
Paul Atkins Emphasizes Global Regulatory Cooperation at Fintech Conference 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Oil prices rose on Wednesday, extending gains from the previous session as geopolitical tensions in the Middle East intensified and fresh industry data pointed to a sharp decline in U.S. crude stockpiles. The combination of supply risks and demand optimism helped push global oil benchmarks higher, reinforcing bullish sentiment in the energy market.
Brent crude futures increased by 65 cents, or 1.0%, to trade at $67.98 per barrel, while U.S. West Texas Intermediate (WTI) crude rose 69 cents, or 1.1%, to $63.90 per barrel during early Asian trading. Both benchmarks had already climbed nearly 2% on Tuesday, reflecting growing concerns over potential disruptions to oil flows.
The latest rally was triggered after the U.S. military confirmed it had shot down an Iranian drone that approached the USS Abraham Lincoln aircraft carrier in the Arabian Sea. Adding to the unease, Iranian gunboats reportedly moved close to a U.S.-flagged oil tanker in the Strait of Hormuz, a critical shipping route that handles a significant share of global oil exports. Any escalation in this region raises fears of supply interruptions, particularly as major OPEC producers rely heavily on the strait for exports to Asian markets.
Diplomatic uncertainty has further fueled market anxiety, with Iran reportedly insisting that upcoming talks with the United States be held in Oman rather than Turkey and limited strictly to nuclear issues. This has cast doubt on whether negotiations will proceed as planned, keeping geopolitical risk premiums elevated.
Oil prices also found strong support from U.S. supply data. Industry sources cited American Petroleum Institute figures showing U.S. crude inventories fell by more than 11 million barrels last week, a much larger drop than expected. Official data from the U.S. Energy Information Administration is due later Wednesday, with analysts previously forecasting an inventory build.
Additional support came from a new U.S.-India trade agreement, which boosted hopes for stronger global energy demand, and from ongoing Russia-Ukraine conflict concerns that could prolong sanctions on Russian oil exports. Together, these factors suggest oil prices may remain firm in the near term, with WTI likely trading around the $65 per barrel level.
