Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Oil prices climbed close to seven-month highs on Wednesday as escalating U.S.-Iran tensions heightened fears of potential supply disruptions in the Middle East. Despite renewed diplomatic talks scheduled for Thursday in Geneva, investors remain cautious, driving volatility in global crude markets.
Brent crude futures rose 45 cents, or 0.64%, to $71.22 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 42 cents, or 0.64%, to $66.05. Brent recently touched its highest level since late July, and WTI reached its strongest point since early August. Prices have held firm as the United States strengthens its military presence in the Middle East, pressuring Iran to negotiate limits on its nuclear and ballistic missile programs.
Market participants are closely watching the geopolitical risk premium built into oil prices. Iran, the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC), plays a critical role in global crude supply. Any prolonged military conflict could disrupt oil exports not only from Iran but across the broader Middle East, a region vital to global energy markets.
U.S. envoys Steve Witkoff and Jared Kushner are expected to meet Iranian officials for a third round of negotiations. Iran’s Foreign Minister Abbas Araqchi signaled that a deal is “within reach” if diplomacy prevails. However, uncertainty remains over whether Tehran will meet Washington’s “zero enrichment” demand, as President Donald Trump has warned of severe consequences if talks fail.
Adding to tensions, reports indicate Iran and China are accelerating discussions over anti-ship cruise missile purchases, potentially increasing risks to U.S. naval forces stationed near Iranian waters.
Beyond geopolitical concerns, oil markets are also reacting to supply data. The American Petroleum Institute reported a sharp 11.43 million-barrel rise in U.S. crude inventories for the week ending February 20, signaling potential oversupply. However, gasoline and distillate stocks declined. Investors now await official data from the U.S. Energy Information Administration for further direction in the global oil market.
