European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
U.S. Stocks Rise as Cooler Inflation Boosts Hopes for Fed Rate Cut 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
U.S. Stocks End Week Higher as Markets Anticipate Fed Rate Cut 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Oil prices slipped in early Thursday trade, pressured by a surprise build in U.S. fuel inventories and Saudi Arabia's price cut for Asian buyers. Brent crude futures dropped 21 cents, or 0.3%, to $64.65 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 29 cents, or 0.5%, to $62.58 as of 0047 GMT.
The decline followed a nearly 1% loss on Wednesday after U.S. Energy Information Administration (EIA) data showed gasoline and distillate stockpiles rose more than expected, signaling weakened demand in the world's largest oil consumer. This bearish inventory data added to concerns about slowing economic activity.
In a further bearish signal, Saudi Arabia, the leading exporter within the OPEC+ alliance, lowered its July crude oil prices for Asian buyers to near four-year lows. The move came shortly after OPEC+ announced an increase in output by 411,000 barrels per day for July, suggesting a more aggressive push to regain market share.
According to Reuters, the pricing strategy by Saudi Arabia and Russia aims to pressure overproducing members and reassert dominance in the global oil market. Analysts say the decision reflects a complex balancing act within the OPEC+ group as it navigates fragile demand recovery.
Global trade tensions also weighed on sentiment. Canada signaled possible retaliatory measures while the European Union reported progress in trade talks amid renewed U.S. tariffs on metals. Heightened volatility around President Trump’s tariff policies has deepened concerns of a global economic slowdown.
Ole Hansen, analyst at Saxo Bank, noted that uncertainty driven by shifting U.S. trade policy continues to rattle markets and fuel fears of reduced energy demand, casting a shadow over near-term oil price recovery.
