China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Asian Stocks Waver as Trump Signals Fed Pick, Shutdown Deal and Tech Earnings Stir Markets 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Dollar Holds Firm as Markets Weigh Warsh-Led Fed and Yen Weakness Ahead of Japan Election 
Wall Street Slides as Warsh Fed Nomination, Hot Inflation, and Precious Metals Rout Shake Markets 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
Oil Prices Surge Toward Biggest Monthly Gains in Years Amid Middle East Tensions 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Indonesia Stocks Face Fragile Sentiment After MSCI Warning and Market Rout 
Gold Prices Pull Back After Record Highs as January Rally Remains Strong 
U.S. Government Faces Brief Shutdown as Congress Delays Funding Deal 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
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.
