Asian Currencies Steady as Markets Await U.S. Jobs Data 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
Japan Executives Warn Weak Yen and Currency Volatility Threaten Economy 
US Job Growth Seen Picking Up in July 
US Dollar Falls as Weak July Jobs Report Dents Fed Rate Hike Bets 
US Stock Futures Rise as Markets Await July Payrolls Data 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
Gold Prices Steady as Hormuz Tensions Fuel Fed Rate Concerns 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
Australian Shares Fall as Westpac Slides, Miners Gain Ahead of RBA Decision 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
Asian Currencies Hold Steady as US Dollar Nears Seven-Week Low Ahead of Key Jobs Data 
Oil Prices Surge as Iran Hormuz Restrictions Renew Supply Fears 
Canada, US Hold Constructive Trade Talks as Tariff Negotiations Continue 
Oil prices climbed on Monday as uncertainty over the reopening of the Strait of Hormuz kept supply concerns elevated, despite signs that Iran and Oman are nearing an agreement on new shipping lanes.
Brent crude futures gained 91 cents, or 1.09%, to $84.46 a barrel by 0056 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 61 cents, or 0.78%, to $78.79 a barrel.
The gains followed a sharp decline last week, when both crude oil benchmarks dropped more than 7%. Prices had fallen on expectations that negotiations between Iran and Oman could pave the way for reopening the Strait of Hormuz, a critical energy route that handled about one-fifth of global oil supplies before the war.
Iran said Sunday that its agreement with Oman was in the “final stages.” However, Tehran stressed that reopening the strategic waterway would depend on Washington meeting additional demands, including compensation for U.S. attacks on Iran.
The lack of a firm timeline has prevented traders from fully removing the geopolitical risk premium from oil prices. Market participants are looking for concrete signs of progress, including confirmed tanker traffic through the Strait of Hormuz or a formal agreement.
Iranian Foreign Minister Abbas Araqchi also said Iran and the United States are not currently holding talks. According to Araqchi, Tehran will not begin negotiations while Washington remains in breach of an interim agreement signed in June.
Oil supply risks increased further following an attack on a Saudi energy facility over the weekend. The Iran-aligned Houthis said they targeted Saudi Aramco’s Jazan refinery on Sunday. The incident came two days after Saudi Arabia signed a defense pact with Turkey and Pakistan amid escalating regional instability linked to the U.S.-Israeli war with Iran.
Meanwhile, the United Arab Emirates’ ADNOC said Friday that 15 of its vessels had been attacked while passing through the Strait of Hormuz since the conflict began.
Continued attacks, geopolitical tensions and uncertainty surrounding the Hormuz reopening are likely to keep global oil markets focused on potential supply disruptions and Middle East developments.
