Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Oil prices edged higher on Wednesday, supported by solid fuel demand in the U.S. and China and improving global economic sentiment. Brent crude rose 0.42% to $69 a barrel, while U.S. West Texas Intermediate (WTI) climbed 0.6% to $66.92, recovering from a two-day decline.
Traders are optimistic as strong seasonal demand—driven by summer travel and industrial activity—continues to support oil prices despite lingering concerns over U.S. trade policies. Market fears of supply disruption eased after President Trump’s threat of tariffs on Russian oil was largely dismissed.
LSEG analysts noted that increased gasoline consumption during the U.S. Fourth of July holiday highlighted resilient demand, helping to counter bearish sentiment from rising inventories and tariff tensions. Meanwhile, China’s June economic data showed slower-than-expected growth, but signs of stability reassured investors. Crude oil throughput in China surged 8.5% year-on-year, the highest since September 2023, reflecting stronger domestic fuel demand and improved refinery margins.
Global economic recovery also bolstered sentiment. The Organization of the Petroleum Exporting Countries (OPEC) forecast better economic performance in the latter half of 2025, with stronger oil demand from emerging economies like India, China, and Brazil. Recovery in the U.S. and European Union added to the positive outlook.
Oil markets remain in a tight range as investors weigh robust demand against macroeconomic risks. Still, signs of sustained consumption and a stable economic backdrop from major importers suggest support for crude prices in the near term.
