German Industry Employment Falls to Lowest Level in a Decade 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Trump and Iran Sign Framework Peace Deal in France Amid Ongoing Middle East Tensions 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
ASX Proposes New Share Dilution Limits for Public Takeovers 
Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Oil prices moved modestly higher during Asian trading on Thursday after suffering a steep decline of more than 7% in the previous session. Investors continued to monitor developments surrounding a possible U.S.-Iran agreement and reviewed the latest U.S. crude inventory data for signs of global demand trends.
Brent crude futures for July delivery climbed 0.9% to $102.14 per barrel, while West Texas Intermediate (WTI) crude futures gained 1.3% to trade at $96.24 per barrel. The recovery followed heavy losses on Wednesday, triggered by reports that Washington and Tehran were nearing a diplomatic understanding that could reduce tensions in the Middle East.
According to reports from Axios, the White House is close to securing a one-page memorandum of understanding with Iran aimed at ending the ongoing conflict. Sources indicated Tehran is expected to respond to the proposal within 48 hours, marking one of the closest moments to a potential agreement since hostilities began.
An Iranian foreign ministry spokesperson also confirmed that Iran would officially respond to the U.S. proposal, according to comments carried by ISNA news agency.
The oil market remains highly sensitive to developments involving the Strait of Hormuz, a vital shipping route responsible for nearly 20% of global oil trade. Any improvement in regional stability could potentially restore disrupted oil flows and ease supply concerns.
However, gains in crude prices were limited after the U.S. Energy Information Administration (EIA) released weekly inventory data showing a smaller-than-expected draw in crude stockpiles. U.S. commercial crude inventories fell by 2.3 million barrels to 457.2 million barrels for the week ending May 1, compared with analyst expectations for a 3.4 million-barrel decline.
The EIA also reported gasoline inventories dropped by 2.5 million barrels, while distillate stockpiles declined by 1.3 million barrels. Strong U.S. petroleum exports highlighted continued international demand despite ongoing uncertainty in global energy markets.
