Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
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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.
