Russia Stocks End Flat as MOEX Closes Unchanged Amid Mixed Global Signals 
Asian Markets Slide as Silver Volatility, Earnings Season, and Central Bank Meetings Rattle Investors 
China Factory Activity Slips in January as Weak Demand Weighs on Growth Outlook 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
South Korea Factory Activity Hits 18-Month High as Export Demand Surges 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
Japan Election Poll Signals Landslide Win for Sanae Takaichi, Raising Fiscal Policy Concerns 
Gold and Silver Prices Plunge as Trump Taps Kevin Warsh for Fed Chair 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
IMF Forecasts Global Inflation Decline as Growth Remains Resilient 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
South Korea Exports Surge in January on AI Chip Demand, Marking Fastest Growth in 4.5 Years 
Asian Currencies Hold Firm as Dollar Rebounds on Fed Chair Nomination Hopes 
Starmer’s China Visit Highlights Western Balancing Act Amid U.S.-China Rivalry 
Gold Prices Stabilize in Asian Trade After Sharp Weekly Losses Amid Fed Uncertainty 
India Budget 2025 Highlights Manufacturing Push but Falls Short of Market Expectations 
Oil prices climbed in Asian trading on Wednesday as investors digested a mixed U.S. crude inventory report and assessed the broader supply outlook ahead of a modest production increase by OPEC+ in November.
As of 22:11 ET (02:11 GMT), Brent crude futures for December delivery rose 0.7% to $65.91 per barrel, while West Texas Intermediate (WTI) crude gained 0.8% to $62.23 per barrel. Both benchmarks were little changed in the prior session after volatile trading, reflecting market uncertainty around demand and supply dynamics.
According to data from the American Petroleum Institute (API), U.S. crude inventories grew by 2.78 million barrels in the week ending October 4, exceeding expectations of a 2.25 million-barrel rise. The increase marked a reversal from the previous week’s 3.67 million-barrel draw, signaling weaker demand and raising short-term bearish sentiment.
However, the API also reported declines in gasoline and distillate stocks, down 1.3 million and 1.8 million barrels respectively. The fall suggests steady fuel consumption despite reduced refinery runs amid seasonal maintenance. Traders are now awaiting confirmation from the U.S. Energy Information Administration (EIA)’s official data later Wednesday, which could further influence price direction.
The modest rebound in oil prices follows last week’s decision by OPEC+ to raise output by 137,000 barrels per day in November, mirroring October’s increase. The move underscores the alliance’s cautious approach to balancing market stability while slowly reclaiming market share.
Meanwhile, U.S. oil production continues to approach record highs. The EIA revised its 2025 forecast upward to 13.53 million barrels per day, citing stronger output from the Permian Basin and the Gulf of Mexico. The agency also cautioned that rising crude inventories may keep pressure on prices through year-end, even as fuel demand remains resilient.
