Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Oil prices edged higher during Asian trading on Friday, recovering some losses from the previous session as supply disruption concerns resurfaced. Crude markets were supported by reports that the United States is preparing to intercept additional tankers carrying Venezuelan oil, a move that could tighten global supply and add a risk premium to prices.
As of 20:50 ET (01:50 GMT), Brent crude futures for February delivery rose 0.5% to $61.61 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.6% to $57.95 per barrel. Despite the rebound, both benchmarks remained under pressure after falling about 1.5% on Thursday, when prices touched more than a seven-week low. For the week, oil prices were still on track to post losses of over 3%.
The earlier decline was driven by a combination of easing geopolitical risk sentiment and U.S. inventory data. Markets reacted negatively to growing optimism around potential peace negotiations between Russia and Ukraine, which could eventually lead to changes in sanctions on Russian energy exports. At the same time, U.S. data showing rising gasoline and distillate inventories raised concerns about weakening fuel demand, further weighing on crude prices.
Friday’s modest recovery followed a Reuters report indicating that Washington is stepping up enforcement of sanctions on Venezuela. According to sources, U.S. authorities are preparing additional interdictions after the recent seizure of the tanker Skipper off Venezuela’s coast. The report suggested that several more sanctioned vessels have been placed on a target list, prompting shipowners to reconsider voyages linked to Venezuelan crude. This tougher stance has heightened fears of disruptions to already constrained sanctioned oil flows, lending short-term support to prices.
However, gains in oil markets remained capped as investors continued to monitor diplomatic developments in Eastern Europe. Any meaningful progress toward a negotiated settlement between Russia and Ukraine could reshape global energy supply expectations and influence future oil price trends. This ongoing uncertainty has left crude markets volatile and directionally constrained, balancing supply disruption risks against the possibility of geopolitical de-escalation.
