China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Oil prices edged higher in early Thursday trading, reversing the previous day’s losses, as encouraging economic signals from top oil-consuming nations and signs of easing global trade tensions supported market sentiment. Brent crude rose 27 cents (0.39%) to $68.79 a barrel, while U.S. West Texas Intermediate (WTI) climbed 31 cents (0.47%) to $66.69. Both benchmarks had dropped more than 0.2% in the prior session.
The U.S. Energy Information Administration reported a sharper-than-expected drop in crude inventories, falling by 3.9 million barrels to 422.2 million barrels last week. This outpaced analysts’ forecasts of a 552,000-barrel decline, indicating tighter supply, stronger refinery activity, and rising demand. However, larger-than-expected builds in gasoline and diesel stocks tempered gains.
John Paisie, president of Stratas Advisors, noted continued support from favorable refining margins, with product spreads remaining relatively wide across regions. He added that the recent easing of U.S.-China trade restrictions, including the lifting of a ban on AI chip sales and a new trade agreement with Indonesia, also provided bullish momentum.
China’s Q2 economic slowdown was less severe than feared, partly due to front-loading ahead of U.S. tariffs. June data showed an 8.5% year-on-year increase in Chinese crude oil throughput, signaling stronger fuel demand from the world’s largest oil importer.
In the U.S., the Federal Reserve’s latest report showed modest economic growth, though future expectations remain neutral to slightly pessimistic amid ongoing concerns over inflation driven by tariffs.
President Donald Trump expressed optimism over a potential drug-related agreement with China and hinted at near-term trade deals with India and Europe. Analysts remain cautious, however, as prolonged trade tensions and tariffs could weigh on global growth and curb long-term fuel demand, limiting oil’s upside.
