Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Oil prices climbed early Thursday as U.S. fuel inventories declined and geopolitical tensions escalated. Brent crude futures rose 0.57% to $71.18 per barrel, while U.S. West Texas Intermediate (WTI) gained 0.51% to $67.50.
The price increase followed U.S. government data showing a larger-than-expected drop in distillate inventories, including diesel and heating oil, which fell by 2.8 million barrels—far exceeding the anticipated 300,000-barrel decline. However, U.S. crude stockpiles surged by 1.7 million barrels, surpassing forecasts of a 512,000-barrel rise.
Geopolitical risks also fueled market concerns. Israel launched a fresh ground operation in Gaza, breaking a nearly two-month ceasefire, while the U.S. continued airstrikes on Houthi targets in Yemen following the group's Red Sea attacks. Former U.S. President Donald Trump vowed to hold Iran accountable for future Houthi aggression.
Meanwhile, Ukrainian President Volodymyr Zelenskiy hinted at potential progress toward a ceasefire with Russia, which could ease sanctions and reintroduce Russian oil supplies to global markets. Talks between Russian and U.S. officials are set to resume in Saudi Arabia on Sunday, according to Trump’s Middle East envoy Steve Witkoff.
In the Americas, Chevron's CEO has requested the U.S. government to extend its deadline for winding down operations in Venezuela by 60 days beyond the original April 1 cutoff. Venezuela’s state-owned oil company, PDVSA, is reportedly planning to continue oil exports from its joint venture with Chevron.
With energy markets reacting to these global developments, investors remain focused on supply risks and potential shifts in geopolitical strategies that could impact oil prices further.
