Asia Manufacturing PMI Rebounds as Exports and Tech Demand Drive Growth into 2026 
U.S. Dollar Steadies Ahead of Fed Minutes as Markets Eye Policy Divisions 
China Imposes 55% Tariff on Beef Imports Above Quota to Protect Domestic Industry 
Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes 
Asian Markets End Year on AI Optimism as Precious Metals and Currencies Shine 
Asian Markets Slip as Precious Metals Cool, Geopolitical Tensions Weigh on Sentiment 
South Korea Inflation Rises to 2.3% in December, Matching Market Expectations 
South Korea Factory Activity Returns to Growth in December on Export Rebound 
Gold Prices Rebound in Europe as Geopolitical Tensions and Fed Outlook Support Bullion 
U.S. Stock Futures Slip as Year-End Trading Turns Cautious 
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy 
Singapore GDP Growth Surges in 2025 but Outlook Remains Cautious Amid Global Trade Risks 
South Korea Factory Output Misses Forecasts in November Amid Ongoing Economic Uncertainty 
Wall Street Ends Mixed as Tech and Financial Stocks Weigh on Markets Amid Thin Holiday Trading 
South Korea Exports Hit Record High as Global Trade Momentum Builds 
Trump Delays Tariff Increases on Furniture and Cabinets for One More Year 
USDA $12 Billion Farm Aid Program Draws Mixed Reactions from Row Crop Farmers 
Oil prices edged lower in Asian trading on Wednesday after climbing to multi-week highs in the previous session, as investors balanced geopolitical supply concerns against fresh data showing a sharp increase in U.S. crude inventories. The pullback came after a strong rally driven by fears that unrest in Iran could disrupt global oil supplies.
Brent crude futures for March delivery slipped about 0.4% to trade near $65.19 per barrel, while U.S. West Texas Intermediate crude fell roughly 0.5% to around $60.87 per barrel. Despite the modest decline, both benchmarks remained close to their recent peaks, after surging more than 2.5% on Tuesday. The gains pushed Brent to an 11-week high and WTI to a 10-week high, marking the fourth consecutive session of advances fueled by geopolitical tensions.
The rally was largely underpinned by escalating anti-government protests in Iran, one of the largest oil producers within OPEC. Market participants have increasingly priced in a geopolitical risk premium amid concerns that prolonged unrest could threaten Iranian crude exports and tighten global supply. Adding to market anxiety, U.S. President Donald Trump issued strong warnings to Iranian authorities, including the possibility of military action if crackdowns on protesters continue. He also reiterated threats of imposing tariffs on countries trading with Iran, further raising uncertainty around future supply flows.
However, gains in oil prices were capped by bearish inventory data from the American Petroleum Institute. According to the API, U.S. crude oil stockpiles rose by approximately 5.3 million barrels last week, significantly exceeding market expectations of a 2 million-barrel increase. Gasoline inventories jumped by about 8.2 million barrels, while distillate stocks climbed roughly 4.3 million barrels, highlighting ample supplies across refined products.
Investors are now awaiting official inventory figures from the U.S. Energy Information Administration later on Wednesday, which could confirm trends in crude oil, gasoline, and distillate stocks. The data will be closely watched for further clues on near-term oil price direction, as markets continue to navigate the push and pull between geopolitical risk and supply-demand fundamentals.
