Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Oil prices slipped in early Asian trading on Wednesday, retreating from a two-week high after U.S. inventory data revealed an unexpected spike in crude stockpiles. Brent crude futures for September delivery fell 0.3% to $69.91 per barrel, while West Texas Intermediate (WTI) dropped 0.4% to $68.10.
The dip followed gains on Tuesday driven by concerns over supply disruptions after fresh Houthi attacks in the Red Sea. A drone and speedboat strike on the Liberian-flagged, Greek-operated vessel Eternity C killed four crew members off Yemen’s coast, escalating geopolitical risks.
Market sentiment shifted after the American Petroleum Institute (API) reported a surprising 7.1 million-barrel build in U.S. crude inventories for the week ending July 4, far above the expected 2.8 million-barrel draw. This marked the largest weekly build since January. Meanwhile, gasoline inventories fell by 2.2 million barrels and distillates declined by 800,000 barrels, signaling potential demand weakness.
Traders now await confirmation from the Energy Information Administration (EIA) later Wednesday. A similar reading would reinforce concerns about oversupply in the U.S. market, potentially weighing further on crude prices.
Adding to market uncertainty, U.S. President Donald Trump on Tuesday announced a 50% tariff on copper imports and hinted at further tariffs on semiconductors and pharmaceuticals. The move follows tariff letters sent to 14 countries, with levies of up to 40% and a blanket 25% tariff on all Japanese and South Korean goods starting August 1. Trump indicated more announcements involving “a minimum of seven countries” would follow.
With rising geopolitical tensions and trade policy shifts, oil markets remain on edge amid growing volatility and supply-demand imbalances.
