South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
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 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Oil prices remained stable during Asian trading on Thursday as investors closely monitored the upcoming meeting between U.S. President Donald Trump and Chinese President Xi Jinping. Traders are watching the high-level talks for signals on trade relations, geopolitical tensions, and the ongoing Iran conflict, all of which continue to influence global crude oil markets.
Brent crude futures for July delivery rose slightly by 0.1% to $105.68 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.1% to trade near $101.08 per barrel. Despite declining more than 1% in the previous session, both benchmarks are still on track for strong weekly gains amid persistent supply concerns.
The Trump-Xi summit in Beijing is expected to cover several major global issues, including U.S.-China trade tensions, Taiwan, and the worsening Iran crisis. Market participants are particularly focused on whether China, the world’s largest crude oil importer, could help ease Middle East tensions and stabilize energy markets.
Oil prices have stayed above the $100 mark due to fears surrounding potential disruptions in the Strait of Hormuz, a critical shipping route responsible for transporting nearly 20% of the world’s oil supply. Concerns over supply interruptions have continued to support crude prices despite economic uncertainty.
The International Energy Agency recently warned that the global oil market could face significant supply shortages through 2026 because of reduced exports linked to the Iran conflict. Meanwhile, OPEC lowered its global oil demand growth forecast for 2026, citing economic pressure from rising fuel prices and geopolitical instability.
Additional support for oil prices came from U.S. inventory data, which showed crude stockpiles fell by 4.3 million barrels last week, far exceeding analysts’ expectations for a 2 million barrel decline. The larger-than-expected drop suggests fuel demand remains resilient even as energy prices climb.
