Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Global oil prices climbed Friday as escalating tensions in the Strait of Hormuz continued to disrupt energy markets, despite U.S. President Donald Trump insisting that the ceasefire between Washington and Tehran remains active. Brent crude futures rose 1.1% to $101.13 per barrel, while West Texas Intermediate (WTI) crude increased 0.6% to $95.40 per barrel as investors closely monitored developments in the Middle East.
The Strait of Hormuz, a vital shipping route responsible for transporting nearly 20% of the world’s oil supply, remains under severe pressure following months of military conflict and shipping disruptions. Iran has effectively restricted access to the waterway since late February, triggering one of the largest oil supply disruptions in recent history. The U.S. military has intensified operations in the region, including actions against Iranian-flagged oil tankers and reported retaliatory strikes near key Iranian ports.
Although military activity has increased, optimism surrounding a potential peace agreement has prevented oil prices from surging further. Iran is reportedly reviewing a new diplomatic proposal aimed at ending the conflict, while U.S. officials continue awaiting Tehran’s formal response. President Trump described the latest clashes as minor incidents and warned of stronger retaliation if negotiations fail.
Meanwhile, investors also reacted to stronger-than-expected U.S. economic data. The latest nonfarm payroll report showed the American economy added 115,000 jobs in April, beating analyst forecasts. The unemployment rate remained stable at 4.3%, easing some concerns over economic slowdown while keeping attention focused on inflation risks linked to rising energy prices.
Fitch Ratings also revised its oil price forecasts upward for 2026 and 2027, citing the prolonged disruption in the Strait of Hormuz. The agency now expects Brent crude to average $87 per barrel this year as uncertainty over global oil supply continues to impact energy markets worldwide.
