Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Oil prices edged lower on Thursday, yet remained on track to close April with notable gains following a surge driven by geopolitical tensions and supply disruptions. Brent crude futures for June delivery slipped 3.3% to $114.08 per barrel, while U.S. West Texas Intermediate (WTI) crude declined 1.9% to $104.86. Despite the pullback, both benchmarks have experienced significant upward momentum in recent weeks.
The recent rally in global oil prices has largely been fueled by ongoing instability in the Middle East, particularly the continued closure of the Strait of Hormuz, a critical oil transit route. Even with multiple ceasefire extensions involving the U.S., Iran, Israel, and Lebanon, the blockage of this key shipping lane has severely disrupted global crude supply, contributing to one of the largest oil supply shocks in history.
Earlier gains were also supported by reports suggesting potential escalation in U.S. military involvement. According to media sources, President Donald Trump is considering various strategic options, including a naval blockade of Iran, targeted military strikes, and operations aimed at reopening the Strait of Hormuz. These developments have heightened market uncertainty and added a risk premium to crude oil prices.
Market participants are also closely monitoring diplomatic efforts, as negotiations between Washington and Tehran have stalled. Analysts suggest that while tensions remain elevated, global oil supply has not been as severely impacted as initially feared. JPMorgan estimates indicate that over 10% of global crude supply has been affected, yet price increases have remained relatively moderate compared to historical spikes.
Meanwhile, news that the United Arab Emirates plans to exit OPEC briefly pressured prices, raising expectations of increased production. However, analysts believe any supply boost may be delayed due to ongoing regional disruptions.
Experts advise investors to maintain a long-term perspective amid the volatility. Diversification remains key, as oil markets continue to react sharply to geopolitical headlines and shifting supply dynamics.
