Russia Stocks Close Flat as MOEX Hits 1-Month High 
Gold Prices Inch Higher as Fed Rate-Cut Expectations Strengthen 
U.S. Open to Special Trade Terms for South Africa Under Possible AGOA Extension 
Asian Currencies Hold Steady as Traders Await Fed Decision; Aussie Dollar Edges Higher 
ECB Signals Steady Rates Ahead as Policymakers Warn of Inflation Risks 
Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 
Wall Street Futures Steady as Markets Await Fed Decision; Nvidia Gains on China Chip Sales Approval 
U.S. Defense Bill Sets Record $901 Billion Budget, Includes Ukraine Aid 
Oil Prices Hold Near Two-Week Highs as Markets Await Fed Rate Cut and Monitor Geopolitical Risks 
Stocks Slip as Investors Brace for Fed Decision and JPMorgan Warning Weighs on Markets 
China Warns of Rising Global Risks as Tariff Pressures Intensify in 2025 
UK Job Market Shows Persistent Weakness Ahead of November Budget 
Global Markets Steady as Yen Holds Firm After Japan Earthquake Amid Central Bank Focus 
Australia’s Business Conditions Ease in November as Capacity Constraints Persist 
Oil prices slipped on Tuesday, extending the previous session’s losses as traders assessed geopolitical developments, rising global supply, and the upcoming U.S. Federal Reserve interest rate decision. Brent crude settled at $61.94 per barrel, down $0.55, while U.S. West Texas Intermediate (WTI) dropped $0.63 to close at $58.25. Both benchmarks had already declined more than $1 on Monday after Iraq resumed production at Lukoil’s West Qurna 2 oilfield, one of the largest in the world, adding further pressure to an already oversupplied market.
Investors are closely watching renewed diplomatic efforts surrounding Russia’s war in Ukraine. President Volodymyr Zelenskiy is expected to present a revised peace plan to the United States following talks in London with leaders from France, Germany, and the U.K. A potential peace deal could trigger the easing of sanctions on Russian companies and release previously restricted oil supply. However, analysts remain skeptical, with some warning that Russia may not be fully committed to meaningful negotiations.
Meanwhile, fresh Russian attacks left roughly half of Kyiv without power on Tuesday, underscoring the fragile situation on the ground. Western policymakers are weighing additional measures to curb Moscow’s oil revenue, with the G7 and European Union considering replacing the current Russian oil price cap with a comprehensive maritime services ban.
Analysts also continue to flag concerns over the growing number of oil cargoes at sea, which have surged by 2.5 million barrels per day since mid-August. This buildup has intensified downward pressure on crude prices, though U.S. sanctions on Rosneft and Lukoil have prevented an even steeper decline.
Markets now turn to the upcoming International Energy Agency’s December oil report, which is expected to provide further clarity on supply trends. If the agency maintains its forecast for a future market surplus, WTI could slide toward the $56.80–$57.50 support range. Traders are also awaiting U.S. inventory data, after the American Petroleum Institute reported a 4.78-million-barrel draw in crude stocks and significant builds in gasoline and distillates.
Attention is also focused on the Federal Reserve, with markets pricing in an 87% chance of a quarter-point rate cut. Lower interest rates typically support oil demand by reducing borrowing costs, though analysts caution the immediate impact on prices may be limited.
