Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
OPEC+ Expected to Hold October Oil Output Steady 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
China Expands Influence in Global Gold Market 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
Asian Currencies Rise as Yen Surges on Fed Rate Outlook 
UK House Prices Fall for First Time Since 2023 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Asian Stocks Rally as Fed Rate Hike Fears Ease 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
Japan, US Target AI and Chips in $550 Billion Investment Push 
Hong Kong Eyes Offshore Yuan Expansion, Deeper China Market Links 
China to Inject $45 Billion Into State Financial Institutions 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Uranium Prices Could Top $100 as Nuclear Demand Grows 
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Oil prices eased slightly during Asian trading on Wednesday after posting strong gains for three consecutive sessions. Investors continued to monitor the ongoing disruption in the Strait of Hormuz while also assessing the latest U.S. crude inventory data and inflation figures.
Brent crude futures for July delivery declined 0.4% to $107.36 per barrel, while West Texas Intermediate (WTI) crude futures slipped 0.3% to $101.91 per barrel. Despite the minor pullback, both benchmark contracts surged more than 3% in the previous trading session amid escalating geopolitical tensions in the Middle East.
Market sentiment remains heavily influenced by uncertainty surrounding the Iran conflict. U.S. President Donald Trump recently stated that the possibility of a ceasefire with Iran was on “life support,” rejecting Tehran’s latest response to U.S.-supported peace proposals. These comments intensified concerns that the conflict could continue for an extended period, further threatening global oil supplies.
The Strait of Hormuz, a critical shipping route responsible for transporting nearly 20% of global oil consumption, remains severely restricted after Iran tightened maritime controls earlier this year. According to the U.S. Energy Information Administration (EIA), the route may stay effectively closed through late May, potentially causing a deeper decline in global oil inventories.
The EIA now forecasts global stockpiles could shrink by 2.6 million barrels per day in 2026, while Brent crude prices may average around $106 per barrel during May and June. Saudi Aramco CEO Amin Nasser also warned that oil market disruptions linked to Hormuz could continue affecting supply stability until 2027.
Meanwhile, data from the American Petroleum Institute showed U.S. crude inventories fell by 2.188 million barrels last week, marking the fourth consecutive weekly decline and supporting higher oil prices.
Investors are also closely watching upcoming talks between Trump and Chinese President Xi Jinping in Beijing, where discussions are expected to include energy security, trade tariffs, and the ongoing Iran crisis.
