Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Asian Stocks Mixed as Korean Chipmakers Rally 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
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Oil prices climbed on Friday as markets reacted to potential tariffs by U.S. President Donald Trump on Mexico and Canada, the top crude suppliers to the U.S.
Brent crude futures for March, expiring Friday, rose 38 cents to $77.25 a barrel at 0110 GMT, while the more-active April contract increased 34 cents to $76.23. U.S. West Texas Intermediate (WTI) crude gained 49 cents to $73.22.
Despite Friday’s gains, Brent is set for a 1.6% weekly decline, while WTI has dropped 2%. However, for January, Brent is on track to gain 3.6%, marking its strongest month since June, while WTI is up 2%.
Trump has threatened a 25% tariff on Canadian and Mexican exports if they do not curb fentanyl shipments into the U.S., with a decision expected soon on whether crude oil imports will be affected.
Canada exported 3.9 million barrels per day (bpd) of crude to the U.S. in 2023, out of 6.5 million bpd of total U.S. imports, while Mexico supplied 733,000 bpd, according to the Energy Information Administration.
Oil prices remain volatile as geopolitical risks rise. "Crude prices fluctuated as investors weigh U.S. tariffs alongside new policy moves," said ANZ Bank analyst Daniel Hynes.
Additional factors keeping prices elevated include sanctions on Russia, restricted Venezuelan oil purchases, and pressure on Iran. "Geopolitical risks will drive oil prices higher, potentially compounded by the U.S. refilling its strategic petroleum reserve," Hynes added.
As uncertainty lingers over trade policies and global supply chains, crude markets remain on edge, with traders closely monitoring developments in Washington.
