Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Oil prices declined in early Thursday trading after Israel and Hamas agreed to the first phase of a plan aimed at ending the long-standing conflict in Gaza. The announcement reduced the war risk premium on crude, prompting investors to sell and pushing prices lower.
Brent crude futures fell 51 cents, or 0.77%, to $65.74 a barrel by 0002 GMT, while U.S. West Texas Intermediate (WTI) crude slipped 55 cents, or 0.88%, to $62 a barrel. The decrease followed confirmation from U.S. President Donald Trump that Israel and Hamas had reached a long-sought ceasefire and hostage-release agreement, marking a significant step toward ending the two-year war in the Palestinian enclave.
Israeli Prime Minister Benjamin Netanyahu stated that his government would convene on Thursday to approve the ceasefire deal. The Gaza conflict has long supported oil prices, with traders assessing the potential impact of regional escalation on global energy supply. The latest peace developments reduced that geopolitical tension, leading to a short-term pullback in prices.
On Wednesday, crude prices had gained around 1%, reaching a one-week high as investors reacted to stalled negotiations over a Ukraine peace deal. The lack of progress was seen as a factor maintaining sanctions against Russia, supporting global supply constraints and, in turn, oil prices.
Meanwhile, data from the U.S. Energy Information Administration (EIA) revealed that total weekly U.S. petroleum products supplied—a proxy for oil demand—rose to 21.99 million barrels per day last week, the highest level since December 2022.
The combination of easing geopolitical tensions and robust U.S. demand presents a complex outlook for global oil markets. While the Gaza ceasefire has softened near-term price pressure, sustained consumption growth and lingering geopolitical risks may keep volatility elevated in the weeks ahead.
