Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
U.S.–Venezuela Relations Show Signs of Thaw as Top Envoy Visits Caracas 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
EU Recovery Fund Faces Bottlenecks Despite Driving Digital and Green Projects 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
Japan Election Poll Signals Landslide Win for Sanae Takaichi, Raising Fiscal Policy Concerns 
U.S. Eases Venezuela Oil Sanctions to Boost American Investment After Maduro Ouster 
Dollar Holds Firm as Markets Weigh Warsh-Led Fed and Yen Weakness Ahead of Japan Election 
Oil prices fell on Wednesday as global financial markets experienced a broad selloff fueled by concerns over economic growth and weakening fuel demand. The stronger U.S. dollar and reports of rising crude inventories in the United States added further pressure on prices.
Brent crude futures dropped 36 cents, or 0.56%, to $64.08 a barrel by 0221 GMT, while U.S. West Texas Intermediate (WTI) crude slipped 40 cents, or 0.66%, to $60.16. Both benchmarks extended losses from the previous session, mirroring declines in global equities.
Asian stock markets followed Wall Street’s overnight slump as investors grew increasingly cautious about stretched stock valuations—especially in sectors tied to artificial intelligence. The risk-off sentiment lifted the U.S. dollar against other major currencies, making dollar-denominated oil more expensive for foreign buyers and dampening demand.
“Crude oil is trading lower as risk sentiment shifted sharply negative, boosting the safe haven U.S. dollar, both of which weighed on crude prices,” said Tony Sycamore, market analyst at IG.
Adding to the bearish outlook, the American Petroleum Institute (API) reported that U.S. crude inventories rose by 6.52 million barrels for the week ending October 31, signaling weaker demand and higher supply.
On the production side, OPEC+—the alliance of the Organization of Petroleum Exporting Countries and its allies—agreed to increase output by 137,000 barrels per day in December. The group also announced it would pause further hikes during the first quarter of 2026, though analysts at LSEG noted this move is unlikely to provide significant support for near-term prices.
OPEC’s own output in October rose modestly by 30,000 barrels per day, as gains were offset by declines in Nigeria, Libya, and Venezuela.
Overall, the combination of economic uncertainty, a stronger dollar, and rising inventories continues to weigh on oil market sentiment, keeping both Brent and WTI under pressure.
