Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Oil prices fell in early Asian trading on Monday, reversing last week’s gains as crude loadings resumed at Russia’s key Novorossiysk export hub. The Black Sea port, which had halted operations for two days following a Ukrainian attack, restarted shipments on Sunday, easing immediate supply concerns.
Brent crude futures dipped 0.9% to $63.81 a barrel, while U.S. West Texas Intermediate (WTI) slid 1.0% to $59.50 a barrel as of 0050 GMT. The downturn came after both benchmarks climbed more than 2% on Friday, supported by temporary export disruptions at Novorossiysk and a nearby Caspian Pipeline Consortium terminal—an outage that briefly affected about 2% of global supply.
Although operations have resumed, Ukraine’s intensified strikes on Russia’s oil infrastructure continue to keep the market on edge. Over the weekend, Ukraine’s military said it targeted Russia’s Ryazan refinery, while Kyiv’s General Staff reported a strike on the Novokuibyshevsk refinery in the Samara region. Analysts say these attacks raise concerns about longer-term risks to Russia’s crude exports.
Toshitaka Tazawa of Fujitomi Securities noted that investors are weighing the potential impact of repeated attacks while also taking profits after last week’s rally. He added that expectations of an oversupplied market, driven by OPEC+ output increases, persist—keeping WTI likely near the $60 mark within a narrow trading range.
Market sentiment is also influenced by Western sanctions aimed at squeezing Russian oil revenues. The United States has banned dealings with Russian energy giants Lukoil and Rosneft, a move intended to pressure Moscow toward peace talks. President Donald Trump said Republicans are preparing legislation targeting any country that continues to conduct business with Russia, with Iran potentially facing additional restrictions.
Meanwhile, OPEC+ recently approved a 137,000 barrel-per-day increase in December production targets—matching October and November’s hikes—while planning to pause further increases in the first quarter of next year. U.S. oil activity also picked up, with Baker Hughes reporting a rise of three rigs last week, bringing the total to 417.
