Japan, U.S. Discuss Yen Weakness as Currency Intervention Concerns Grow 
US Dollar Hits One-Year High as Hawkish Fed Outlook Overshadows Middle East Developments 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Gold Prices Mixed as Stronger Dollar Offsets Safe-Haven Demand Amid U.S.-Iran Peace Talks 
Dollar Holds Firm as U.S.-Iran Talks Ease Tensions, GBP/USD Slips Amid UK Political Uncertainty 
Asian Stocks Slide as AI Rally Pauses, South Korean Chipmakers Lead Regional Decline 
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
Japan Keeps Markets Guessing as Yen Nears 40-Year Low, Raising Intervention Risks 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Wall Street Ends Mixed as Alphabet Slumps, Middle East Developments and Fed Outlook Weigh on Markets 
Gold Price Rises as Investors Weigh U.S.-Iran Talks and Fed Policy Outlook 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Oil prices eased slightly in Asian trading on Wednesday, pulling back from seven-week highs as investors weighed weaker demand forecasts and awaited the outcome of key U.S.-China trade negotiations.
Brent crude futures for July delivery slipped 0.3% to $66.65 per barrel, while West Texas Intermediate (WTI) dropped 0.2% to $64.86 per barrel, both retreating after hitting highs not seen since April.
The oil market remained focused on the results of two days of U.S.-China trade talks held in London. Officials from both sides announced a preliminary framework to reinforce the Geneva trade truce. The agreement includes China easing export restrictions on rare-earth minerals and magnets, while the U.S. plans to roll back some tech-related export controls, including on semiconductors. U.S. Commerce Secretary Howard Lutnick said the deal adds substance to previous commitments, though implementation still awaits approval from Presidents Trump and Xi.
Optimism over reduced trade tensions supported global growth sentiment, helping buoy oil prices. However, concerns over weaker demand kept gains in check. The U.S. Energy Information Administration (EIA) trimmed its global oil demand forecast by 200,000 barrels per day to 103.5 million bpd, citing weaker consumption in developed nations. The agency also projected lower U.S. crude output in 2025 due to subdued drilling activity.
In contrast, OPEC+ continues to ramp up production, heightening oversupply worries. On the inventory front, U.S. crude stockpiles fell by 370,000 barrels last week, according to the American Petroleum Institute (API), defying expectations of a 700,000-barrel build. Investors now await the official EIA report for confirmation.
The mix of trade optimism, demand concerns, and inventory data is likely to keep oil markets volatile in the short term.
