Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Global oil prices extended their decline in Asian trading on Friday and were on track for a weekly loss after U.S. President Donald Trump announced that he had canceled planned military strikes against Iran, citing progress toward a potential diplomatic agreement.
Brent crude futures for August delivery dropped 1.5% to $89.05 per barrel, while West Texas Intermediate (WTI) crude futures fell 1.6% to $86.34 per barrel. The decline followed a sharp selloff on Thursday, when both oil benchmarks lost nearly 3% as traders reduced the geopolitical risk premium that had supported prices during recent tensions in the Middle East.
Market sentiment improved after Trump stated that negotiations with Iran had reached the highest levels of leadership and that a deal could be finalized soon. According to the U.S. president, Washington and Tehran may sign a peace agreement as early as this weekend, potentially allowing the Strait of Hormuz to fully reopen to international shipping.
The Strait of Hormuz is a critical global oil transit route, and fears of disruptions in the region had previously driven crude oil prices higher. Trump's latest comments marked a significant shift from earlier warnings of possible military action, easing concerns about supply interruptions from one of the world's most important energy-producing regions.
Despite the decline in oil prices, investors remain cautious. Iranian officials indicated that discussions are still ongoing and that no final decision has been reached. Any breakdown in negotiations could quickly reignite concerns over global oil supplies and trigger renewed volatility in energy markets.
Limiting the downside for crude prices, recent U.S. government data revealed a larger-than-expected drawdown in crude oil inventories. U.S. stockpiles fell by 7.2 million barrels, significantly exceeding market forecasts and highlighting strong fuel demand in the world's largest oil-consuming nation.
The latest inventory decline marked the seventh consecutive weekly drop in U.S. crude stocks, providing fundamental support for the oil market. However, the sharp losses recorded on Thursday outweighed earlier gains driven by geopolitical tensions, leaving both Brent crude and WTI crude set for a weekly decline.
Investors will continue monitoring developments in U.S.-Iran negotiations, global oil supply conditions, and energy demand trends for further direction in the crude oil market.
