Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Trump Questions USMCA Renewal as Trade Talks Continue 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Oil prices extended their gains during Asian trading on Thursday as geopolitical tensions involving Venezuela and Russia heightened concerns over global crude supply. Market sentiment was boosted after U.S. President Donald Trump ordered a blockade of sanctioned oil tankers entering and leaving Venezuela, a move that escalated pressure on the South American nation and raised fears of further export disruptions.
As of late Asian hours, Brent crude futures for February delivery rose 0.7% to around $60.08 per barrel, while U.S. West Texas Intermediate (WTI) crude futures gained 0.8% to approximately $56.39 per barrel. The rise in oil prices reflects growing uncertainty surrounding supply from key oil-producing nations amid tightening sanctions and potential enforcement actions.
The U.S. blockade targets tankers carrying Venezuelan oil that are already under American sanctions, signaling a tougher stance against President Nicolas Maduro’s government. Venezuela, a member of OPEC, has seen its crude exports sharply constrained over the years due to longstanding U.S. sanctions. Analysts warn that stricter enforcement of the blockade could further limit Venezuelan oil shipments, tightening global supply conditions.
Market optimism was further supported by reports that Washington is considering harsher measures against Russia’s energy sector if diplomatic efforts to end the Ukraine conflict fail. Proposed actions could affect Russia’s oil production, shipping routes, and export infrastructure, potentially disrupting flows from one of the world’s largest crude exporters. Analysts at ING noted that with Brent crude trading near $60 per barrel and a surplus outlook, the U.S. may have room to pursue more aggressive sanctions without immediate economic fallout.
On the data front, oil price gains were partially tempered by U.S. inventory figures. According to the Energy Information Administration, U.S. crude oil stocks fell by 1.27 million barrels for the week ended December 12, smaller than the expected 2.4 million barrel draw. Meanwhile, gasoline and distillate inventories rose sharply, signaling softer demand for refined fuel products.
Overall, oil markets remain sensitive to geopolitical developments, sanctions policy, and supply-demand dynamics, all of which continue to shape crude oil price movements.
