Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
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.
