US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
South Korea GDP Surges on Chip and AI Boom 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Asian Stocks Mixed as Korean Chipmakers Rally 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
Fitch Eyes Japan Budget for Fiscal Discipline 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
German Inflation Accelerates to 2.9% in August 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Gold Prices Rise as Yen Rally Weakens Dollar 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
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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.
