Japan’s Service Sector Sustains Growth Momentum in November 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Oil prices slipped slightly in Asian trading on Wednesday, despite optimism that the U.S. government was close to ending its record-breaking 42-day shutdown. The temporary support from the potential reopening was outweighed by lingering fears of an oil supply glut and a strong U.S. dollar that continued to pressure the market.
Brent crude futures for January edged down 0.2% to $65.04 per barrel, while West Texas Intermediate (WTI) crude also fell 0.2% to $60.85 per barrel by 20:21 ET (01:21 GMT). The modest losses came as traders weighed the impact of political and economic developments in the world’s largest oil consumer.
The U.S. Senate approved a bill on Tuesday to reopen the government, with the House of Representatives expected to vote in favor on Wednesday. Once signed into law by President Donald Trump, the measure will officially end the longest shutdown in U.S. history. The prospect of restored federal operations provided some support to crude markets, as the shutdown had caused widespread disruptions across several sectors, including travel and energy logistics.
Airports across the U.S. faced significant challenges due to staffing shortages in air traffic control and safety departments, resulting in thousands of flight cancellations. These disruptions dampened fuel demand, compounding pressure on oil prices even as traders looked for positive signals from Washington.
Meanwhile, concerns over global supply continued to weigh heavily on sentiment. Reports indicated that Russia’s Lukoil declared force majeure at an Iraqi oilfield, a move linked to the tightening U.S. sanctions on Moscow’s energy sector. The development highlighted growing geopolitical risks in global oil markets, but the potential for oversupply—driven by steady output from major producers—remained the dominant theme restraining price recovery.
Overall, traders remain cautious as oil markets balance geopolitical tensions, U.S. policy shifts, and persistent fears of excess supply that could cap price gains in the near term.
