Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Oil prices moved modestly higher during Asian trading on Wednesday, recovering slightly from sharp losses in the previous session. However, crude prices remained near three-month lows as investors continued to assess the impact of a potential increase in global oil supply following a U.S.-Iran peace agreement.
Brent crude futures for August delivery rose 0.6% to $79.40 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.6% to $76.52 per barrel. Despite the rebound, both oil benchmarks remain under pressure after falling around 5% on Tuesday, their steepest decline in months. Brent settled at $78.96 per barrel, while WTI closed at $76.05.
Support for oil prices came from a significant decline in U.S. crude inventories, signaling strong fuel demand in the world’s largest oil-consuming nation. According to data from the American Petroleum Institute (API), U.S. crude stockpiles dropped by 8.33 million barrels during the week ending June 12, far exceeding market expectations of a 4.5 million-barrel decline.
The inventory report also showed gasoline stocks increased by 2.48 million barrels, while distillate inventories, including diesel and heating oil, edged down by 10,000 barrels. The substantial draw in crude supplies suggested tighter near-term market conditions and continued demand strength.
Despite the bullish inventory data, market sentiment remained cautious due to the recently announced U.S.-Iran agreement. The deal is expected to restore maritime traffic through the Strait of Hormuz and remove restrictions on Iran’s oil exports. Under the agreement, the United States will lift its blockade of Iranian ports, while Tehran has committed to preventing the development of nuclear weapons.
The prospect of Iranian crude returning to international markets has reduced the geopolitical risk premium that previously supported oil prices. Traders expect increased Middle Eastern oil supply and improved shipping access through one of the world's most important energy corridors.
However, uncertainty surrounding the implementation timeline continues to limit further downside pressure. Shipping companies and energy traders are awaiting additional details regarding security measures and operational procedures before fully resuming activity.
Investors are now closely watching official U.S. government inventory data for confirmation of the API figures, which could provide further direction for global oil markets and crude price forecasts in the coming sessions.
