Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Oil Prices Bounce Back as Middle East Concerns and U.S. Elections Loom
Oil prices saw an uptick in early Asian trade on Tuesday after significant losses on Monday due to eased concerns over an escalating Middle East conflict. Brent crude futures for December gained 0.7% to reach $71.94 per barrel, while West Texas Intermediate crude futures similarly rose 0.7%, hitting $67.87 per barrel at 00:17 GMT.
The recent downturn followed an Israeli strike over the weekend, which notably avoided Iranian oil and nuclear assets. This limited fear of a severe escalation in regional conflict and led traders to reduce the previously high-risk premium in oil prices.
Middle East Tensions and Retaliation Threats
Despite Monday's market reaction, tension in the Middle East remains high. After Israel’s retaliatory strike in response to Iran’s October attack, Tehran threatened potential retaliation, keeping supply risk alive. Israel has signaled no intent to ease military actions against groups like Hamas and Hezbollah, reducing prospects for a truce.
Upcoming U.S. Election and Economic Data Impact
Market sentiment remains volatile ahead of the upcoming U.S. presidential election, with traders closely monitoring the race between Donald Trump and Kamala Harris. A potential Trump victory is expected to lead to inflationary policies, which could impact global oil markets.
Adding to the uncertainty, upcoming economic indicators from China and the U.S. – including the Purchasing Managers Index (PMI), U.S. GDP, and the PCE Price Index – will provide further insight into oil demand trends.
