Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Oil prices rose on Thursday following a U.S. trade court’s decision to block President Donald Trump’s proposed tariffs, easing market fears over global trade disruptions. Brent crude futures gained 81 cents, or 1.25%, reaching $65.71 per barrel, while U.S. West Texas Intermediate crude rose 83 cents, or 1.34%, to $62.62 at 0102 GMT.
The court ruled Trump exceeded his authority by imposing blanket tariffs on countries with trade surpluses over the U.S., sparking a broad rally across risk assets. However, analysts warned the optimism may be short-lived as the administration plans to appeal the decision.
Investors are also closely monitoring potential new U.S. sanctions targeting Russian crude exports, which could tighten global supply. Despite earlier sanctions over the Ukraine conflict, Russian oil exports have shown resilience, casting doubt on the impact of additional restrictions. According to Commonwealth Bank of Australia analyst Vivek Dhar, further U.S. measures may have limited effect.
Meanwhile, OPEC+ is expected to meet Saturday, with speculation growing that the alliance could accelerate oil output hikes in July. Market participants are watching for signals amid growing global demand.
Adding to supply pressures, Chevron has ceased oil production activities in Venezuela after losing a key license in March. The halt disrupted roughly 290,000 barrels per day of exports, over one-third of Venezuela’s output. The South American nation also canceled Chevron cargoes in April due to payment concerns tied to sanctions.
Rystad Energy’s Mukesh Sahdev projects a bullish market through August, with global liquids demand set to outpace supply by 600,000 to 700,000 barrels per day. Later Thursday, attention will shift to weekly inventory data from the American Petroleum Institute and the U.S. Energy Information Administration. Early reports suggest U.S. crude and gasoline stocks declined, while distillate inventories rose.
