China Expands Influence in Global Gold Market 
Asian Stocks Mixed as Korean Chipmakers Rally 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Jefferies Names 6 Top India Stock Picks Across Key Sectors 
Uranium Prices Could Top $100 as Nuclear Demand Grows 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
South Korea GDP Surges on Chip and AI Boom 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
Gold Prices Rise as Yen Rally Weakens Dollar 
China to Inject $45 Billion Into State Financial Institutions 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Yen Rebounds as BOJ Rate Hike Bets Rise 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
Add as a preferred source on Google
Oil prices steadied in early trade on Wednesday after two straight sessions of declines, as traders weighed the potential for a larger OPEC+ output hike against signs of tightening U.S. crude supplies. Brent crude futures for December delivery inched up 12 cents to $66.15 a barrel, while U.S. West Texas Intermediate (WTI) crude also rose 12 cents to $62.49.
Both benchmarks had suffered sharp drops earlier in the week, with Brent and WTI tumbling more than 3% on Monday—their steepest fall since August 1—followed by another decline of at least 1.5% on Tuesday.
Market sentiment was supported by expectations of shrinking U.S. crude inventories. According to estimates from the American Petroleum Institute (API), crude stocks fell by 3.67 million barrels for the week ending September 26. At the same time, gasoline inventories rose by 1.3 million barrels and distillate stocks increased by 3 million barrels. The drawdown in crude helped prevent deeper losses in oil prices.
Attention also remains on OPEC+ policy. Sources familiar with internal talks revealed that the group, which supplies nearly half of the world’s oil, may raise production by as much as 500,000 barrels per day (bpd) in November—triple October’s hike. Saudi Arabia, in particular, is said to be pushing to regain market share. Some members reportedly discussed increases ranging from 274,000 to 411,000 bpd, though others suggested the output boost could reach 500,000 bpd.
However, OPEC later clarified in a post on X (formerly Twitter) that media reports about a 500,000 bpd hike were “misleading,” adding uncertainty to the market.
Beyond oil, geopolitics also played a role in investor sentiment. In Washington, U.S. President Donald Trump secured Israeli Prime Minister Benjamin Netanyahu’s backing for a U.S.-sponsored Gaza peace proposal, though the response from Hamas remained unclear.
The combination of falling U.S. crude inventories, OPEC+ production signals, and geopolitical developments will likely continue to influence oil market direction in the coming weeks.
