German 2-Year Yield Hits 2023 High as Rate Hike Bets Rise 
Asian Stocks Steady as AI Shares Rebound Ahead of Fed Decision 
Hormuz Vessel Traffic Drops to Single Digits 
Oil Prices Surge as Houthi Attacks Deepen Hormuz Supply Fears 
UK Wage Growth Slows as BoE Rate Decision Looms 
Japanese Yen Retreats as Dollar Rises Ahead of Fed, BOJ Rate Decisions 
Gold Prices Slip as Fed Rate Hike Looms, Treasury Yields Rise 
Hong Kong Unveils First Five-Year Plan to Boost Finance, Tech and Housing 
Gold Prices Fall as Hot U.S. Inflation Boosts Fed Rate Hike Bets 
Asian Tech Stocks Slide as AI Concerns and Rising Bond Yields Hit Chipmakers 
Saudi Oil Exports Face 4% Global Supply Threat as Pipeline Remains Shut 
BOJ Flags Import Costs and Yen Shocks as Persistent Inflation Risks 
Oil Prices Surge as Houthi Attacks Raise Saudi Supply Fears 
Goldman Sachs Forecasts Fed Rate Hike as Inflation Risks Rise 
Dollar Rises as Fed Hike Bets Weigh on Asian Currencies 
Gold Prices Steady as Oil Disruptions Boost Fed Rate Hike Bets 
China Industrial Output Beats Forecasts as Exports Support Growth 
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Oil prices declined on Wednesday after industry data showed an unexpected increase in U.S. crude inventories, offsetting concerns over worsening Middle East supply disruptions and Saudi Arabia’s suspension of loadings at a major export port.
Brent crude futures fell 0.75% to $107.94 a barrel by 00:04 ET (04:04 GMT), while West Texas Intermediate crude futures dropped 1.1% to $104.70. The pullback also reflected profit-taking after crude prices surged in recent weeks amid escalating Houthi-Saudi tensions and restricted oil flows through the Strait of Hormuz.
American Petroleum Institute data showed U.S. crude stockpiles increased by 7.14 million barrels in the week ended September 11, sharply contrasting with expectations for a 1.8 million-barrel decline. Traders are now awaiting official U.S. inventory figures due later Wednesday.
The stockpile increase may partly reflect continued releases from the U.S. Strategic Petroleum Reserve. Energy Information Administration data showed the SPR has fallen by nearly 130 million barrels so far in 2026, reaching 285.36 million barrels.
Despite Wednesday’s losses, Middle East supply risks continued to support oil prices near annual highs. Saudi Arabia reportedly halted loadings at its Yanbu port after shutting the East-West pipeline following attacks by Yemen’s Iran-aligned Houthis.
Saudi authorities also said they intercepted a drone south of Mecca early Wednesday. The Houthis have strengthened positions near the Red Sea, increasing their ability to target tankers around the Bab el-Mandeb strait. Their attacks are expected to disrupt roughly 4% to 5% of global oil supplies.
Meanwhile, the ongoing U.S.-Iran standoff has kept Strait of Hormuz oil flows well below prewar levels, maintaining a significant geopolitical risk premium.
Brent crude remains nearly 4% higher this week after gaining about 8% in each of the previous two weeks. Traders are also watching the Federal Reserve’s policy decision later Wednesday, with markets widely expecting an interest-rate hike that could influence the U.S. dollar, economic outlook and crude oil demand.
