Australia’s Labour Market Weakens as November Employment Drops Sharply 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Oil prices slipped slightly in Asian trading on Wednesday, extending losses as escalating U.S.-China trade tensions and a warning from the International Energy Agency (IEA) about a potential supply glut dampened sentiment. Both Brent and West Texas Intermediate (WTI) crude remained near five-month lows, pressured by fears that renewed trade conflicts could weaken global demand.
Brent crude futures for December edged down 0.2% to $62.26 per barrel, while WTI crude fell 0.2% to $58.18 by 21:39 ET (01:39 GMT). The declines followed a sharp selloff earlier in the week after U.S. President Donald Trump threatened to impose 100% tariffs on Chinese imports, triggering market anxiety and a strong response from Beijing. The growing risk of a trade war between the world’s two largest economies fueled concerns of slower global growth and weaker energy consumption.
Adding to the bearish tone, China’s latest inflation data came in weaker than expected, reinforcing signs of persistent economic softness in the world’s biggest oil importer.
Meanwhile, the IEA’s latest monthly report warned that global oil markets could face a significant oversupply by 2026—potentially as much as four million barrels per day. The agency attributed this forecast to increased production, particularly from OPEC members, combined with slower demand growth. The IEA also revised down its demand forecasts for both 2025 and 2026.
In contrast, OPEC’s recent report painted a more optimistic outlook, predicting stronger demand growth and justifying its steady increase in output this year after reversing two years of production cuts. However, the group’s push for market share has fueled fears of an eventual glut amid waning consumption trends.
Despite the bearish backdrop, losses in oil were capped slightly by a weaker U.S. dollar after dovish comments from Federal Reserve officials. Traders now await upcoming U.S. inventory data for further clues on energy demand, particularly as the country grapples with a prolonged government shutdown.
