South Korea GDP Surges on Chip and AI Boom 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
UK House Prices Fall for First Time Since 2023 
Asian Stocks Mixed as Korean Chipmakers Rally 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
China to Inject $45 Billion Into State Financial Institutions 
Gold Prices Rise as Yen Rally Weakens Dollar 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Gold Holds Near $4,400 as Fed Hike Bets Rise 
China Expands Influence in Global Gold Market 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
OPEC+ Expected to Hold October Oil Output Steady 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
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Oil prices edged lower on Monday after U.S. President Donald Trump announced plans to raise tariffs on global imports, a move that has heightened uncertainty סביב global economic growth and future fuel demand. The latest tariff decision weighed on crude markets, reversing some of last week’s gains driven by geopolitical tensions in the Middle East.
Brent crude futures fell 45 cents, or 0.63%, to $71.31 per barrel as of 2315 GMT. Meanwhile, U.S. West Texas Intermediate (WTI) crude declined 50 cents, or 0.75%, to trade at $65.98 per barrel. The pullback reflects investor concerns that higher U.S. import tariffs could slow international trade, dampen economic expansion, and reduce global energy consumption.
Over the weekend, President Trump stated that he would increase a temporary tariff on U.S. imports from 10% to 15%, the maximum rate permitted under current law. The decision follows a U.S. Supreme Court ruling that struck down his earlier tariff program, prompting the administration to introduce a revised measure. Analysts say the tariff hike could pressure supply chains, disrupt global markets, and weigh on oil demand forecasts.
The announcement overshadowed escalating geopolitical risks involving the United States and Iran, which had supported crude prices last week. Fears of potential military conflict between the two nations pushed both Brent and WTI crude futures up more than 5%, as traders anticipated possible supply disruptions in the oil-rich Middle East.
However, market sentiment shifted as investors reassessed the broader economic impact of renewed trade tensions. Higher tariffs may curb industrial activity and transportation demand, both key drivers of oil consumption. As a result, oil market volatility remains elevated, with traders closely monitoring developments in U.S. trade policy and geopolitical relations.
Energy analysts suggest that future price movements will depend on the balance between geopolitical supply risks and the potential slowdown in global economic growth triggered by rising trade barriers.
