Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Oil Prices Rise Amid Shrinking U.S. Inventories
Oil prices rebounded on Thursday in Asian trade, recovering from recent steep losses. The rise followed industry data showing an unexpected drop in U.S. oil inventories, boosting market sentiment.
Brent crude for December delivery gained 0.6% to $74.67 per barrel, while West Texas Intermediate (WTI) rose 0.6% to $70.27 per barrel at 01:02 GMT.
Middle East Tensions and China's Stimulus in Focus
Oil markets remain on edge due to heightened tensions in the Middle East, particularly concerns about Israel's retaliation against Iran. However, reports indicate that Israel may avoid targeting Iran’s oil and nuclear infrastructure, easing fears of a severe conflict escalation.
Additionally, oil prices continue to be affected by weak demand signals from China, the world’s top oil importer. Despite recent fiscal stimulus announcements, Beijing has yet to provide clear details on the scale and timing of these measures.
U.S. Inventory Shrinks, Supporting Oil Prices
The American Petroleum Institute (API) reported a surprising 1.58 million barrel draw in U.S. oil inventories for the week ending October 11, contrary to expectations of a 3.2 million barrel increase. This data raises hopes for tightening U.S. supplies, despite previous weeks of substantial inventory builds.
The API report usually foreshadows the official U.S. Energy Information Administration (EIA) inventory data, due later on Thursday.
Demand Fears Persist
Despite Thursday’s recovery, oil prices remain under pressure. Over the past week, both Brent and WTI crude have fallen by 5-6.5% due to weak global demand forecasts. Both the International Energy Agency (IEA) and OPEC have downgraded their projections, citing slowing demand in China as a key concern.
