U.S. Defense Bill Sets Record $901 Billion Budget, Includes Ukraine Aid 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
UK Job Market Shows Persistent Weakness Ahead of November Budget 
Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
U.S. Stocks Rise as Cooler Inflation Boosts Hopes for Fed Rate Cut 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Oil prices hovered near two-week highs on Monday as global markets anticipated a possible U.S. Federal Reserve interest rate cut that could boost economic growth and strengthen energy demand. Brent crude futures edged up 4 cents to $63.79 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 7 cents to $60.15 a barrel during early Asian trading. Both benchmarks ended Friday at their highest levels since November 18, reflecting improving market sentiment.
Investor expectations are firmly tilted toward a quarter-point rate cut, with LSEG data showing an 84% probability ahead of the Federal Reserve’s two-day meeting. However, analysts warn that the decision may be one of the most divisive in recent years, making the central bank’s forward guidance especially critical for commodity markets.
Geopolitical tensions continue to add uncertainty to global oil supply. Progress in Ukraine peace negotiations remains slow, with major disagreements over security guarantees for Kyiv and the status of Russian-occupied regions. According to ANZ analysts, the outcomes of these discussions—and former President Donald Trump’s push to influence negotiations—could shift global oil supply by more than 2 million barrels per day, depending on how the conflict evolves.
Additional pressure is coming from Western policy discussions, as the Group of Seven nations and the European Union consider replacing the existing price cap on Russian oil with a full maritime services ban. Such a move could significantly restrict exports from Russia, the world’s second-largest oil producer.
At the same time, Washington has intensified its stance against Venezuela, targeting alleged drug-smuggling operations and issuing threats of military action against President Nicolás Maduro’s government. Meanwhile, Chinese independent refiners have increased purchases of sanctioned Iranian crude, using newly issued import quotas to draw from onshore storage and help ease an ongoing supply overhang.
These combined economic and geopolitical forces continue to shape a volatile but upward-leaning outlook for global oil markets.
