ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Global oil prices edged lower on Wednesday morning after data from the American Petroleum Institute revealed a significant build in U.S. crude stockpiles, putting downward pressure on markets already navigating complex geopolitical developments across the Middle East.
Brent crude futures slipped $1.15, or 1.11%, to $102.27 per barrel in early trading, while U.S. West Texas Intermediate fell $1.54, or 1.6%, settling at $94.67 per barrel. The decline came after API figures indicated that American crude inventories climbed by approximately 6.56 million barrels for the week ending March 13 — far exceeding a Reuters analyst poll that had projected a modest increase of around 380,000 barrels.
On the supply side, developments in the Middle East offered a mixed picture. Iraq's oil minister announced that Baghdad and the Kurdistan Regional Government struck a deal to resume crude exports through Turkey's Ceyhan energy hub, with flows expected to begin Wednesday morning. Meanwhile, Libya's National Oil Corporation confirmed that production at the Sharara oilfield continued uninterrupted after a fire prompted operators to reroute output through alternative pipelines, with no injuries reported.
Escalating tensions between Iran and Israel added another layer of uncertainty to global energy markets. Tehran confirmed the death of senior security official Ali Larijani, attributed to an Israeli strike, marking one of the most high-profile casualties since the onset of the U.S.-Israeli conflict. Separately, the U.S. military conducted strikes on Iranian coastal positions near the strategically vital Strait of Hormuz, citing threats to international shipping from Iranian anti-ship missiles.
Despite the heightened regional tension, some market analysts interpreted these developments as potential signals of a faster resolution to the conflict. Mingyu Gao, chief energy researcher at China Futures, noted that recent events near the Strait of Hormuz have sparked cautious optimism that hostilities could wind down sooner than anticipated.
