US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Oil prices extended their decline for a third consecutive session on Friday, weighed down by renewed diplomatic efforts between the United States, Ukraine, and Russia, along with persistent uncertainty over U.S. interest rate policy. Brent crude futures slipped 71 cents, or 1.12%, to $62.67 a barrel by 0212 GMT, following a modest dip in the previous session. U.S. West Texas Intermediate crude also fell 71 cents, or 1.20%, to $58.29 a barrel after closing lower on Thursday. Both major benchmarks are poised to end the week more than 2% lower, reflecting rising concerns about oversupply and softening demand.
Market sentiment weakened as Washington pushed forward a proposed peace plan aimed at ending the three-year Russia-Ukraine conflict—an agreement that, if reached, could ease geopolitical tensions and potentially restore more Russian oil to global markets. This development comes even as sanctions targeting Russian oil giants Rosneft and Lukoil were set to take effect on Friday. Lukoil, however, has been granted until December 13 to divest its extensive international portfolio, adding another layer of complexity to supply expectations.
Analysts say the mere possibility of a peace breakthrough has been enough to pressure prices. According to IG market analyst Tony Sycamore, even the slim chance of an agreement is eroding the geopolitical risk premium that has long supported crude prices. With Ukraine yet to formally reject the proposal, traders are closely watching for any shifts that could influence global supply dynamics.
Adding further downward pressure, the U.S. dollar strengthened throughout the week, making oil more costly for buyers using other currencies. The greenback is on track for its strongest weekly performance in over a month as investors increasingly believe the Federal Reserve will refrain from cutting interest rates in the near term. This stronger dollar, paired with cautious risk sentiment, has contributed to the ongoing weakness in crude markets.
Overall, a combination of geopolitical developments, economic uncertainty, and currency movements continues to shape oil price trends, leaving investors bracing for more volatility ahead.
