Asian Stocks Fall as Oil Tops $100, Yields Rise 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Fitch Eyes Japan Budget for Fiscal Discipline 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
German Inflation Accelerates to 2.9% in August 
Norway Core Inflation Rises to 3% in August 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Gold Prices Rise as Yen Rally Weakens Dollar 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
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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.
