IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
U.S. Cyber Monday Online Sales Surge Past $9.1 Billion as Holiday Shopping Momentum Builds 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Intel Boosts Malaysia Operations with Additional RM860 Million Investment 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Tech Stocks Lift S&P 500 as Fed Rate-Cut Expectations Rise 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
U.S. May Withhold $30.4 Million From Minnesota Over Improper Commercial Driver Licenses 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Oil prices climbed for a second straight session on Tuesday as traders evaluated escalating geopolitical risks, including Ukrainian drone strikes on Russian energy facilities and growing friction between the U.S. and Venezuela. Brent crude futures edged up 0.2% to $63.31 per barrel, while U.S. West Texas Intermediate (WTI) increased 0.3% to $59.50. Both benchmarks had already gained more than 1% on Monday, supported by concerns over potential disruptions to global oil supply.
The Caspian Pipeline Consortium confirmed it has restarted shipments through one of its Black Sea terminal mooring points following a significant drone attack on November 29. According to Russia’s Kommersant newspaper, operations resumed at Single Point Mooring 1, though SPM 2 remains damaged. Market analysts at Ritterbusch and Associates noted that ongoing military activity reduces the likelihood of a near-term peace agreement and could tighten diesel and gasoil markets, potentially boosting overall crude prices.
On the diplomatic front, Ukrainian President Volodymyr Zelenskiy reiterated that Kyiv’s main priorities are safeguarding sovereignty and securing reliable security guarantees, adding that territorial issues remain the most challenging obstacles. Meanwhile, U.S. envoy Steve Witkoff is expected to brief the Kremlin on Tuesday as tensions continue to rise.
Concerns over supply constraints were amplified by ANZ, which highlighted growing uncertainty surrounding Venezuelan oil exports amid an expanding U.S. campaign. Over the weekend, President Donald Trump signaled a tougher stance, stating that Venezuelan airspace should be considered “closed in its entirety,” though he offered no specifics.
Adding another layer to the market outlook, OPEC+ confirmed a modest production increase for December but will pause further hikes in the first quarter of next year due to fears of oversupply. Ritterbusch analysts suggested that despite recent price gains, weakening global balances could still push WTI and Brent toward $55 and $59 respectively.
This combination of geopolitical tension, supply risks, and shifting OPEC+ policy continues to shape a volatile but closely watched oil market.
