U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
U.S. May Withhold $30.4 Million From Minnesota Over Improper Commercial Driver Licenses 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Oil prices drifted lower in Asian trading on Wednesday as rising U.S. crude inventories and anticipation surrounding upcoming U.S. sanctions on major Russian oil companies added pressure to the market. Brent oil futures for January eased 0.4% to $64.61 per barrel, while West Texas Intermediate (WTI) crude also slipped 0.4% to $60.51. The slight pullback followed a more than 1% jump on Tuesday after Russia’s Novorossiysk port resumed oil loadings following a two-day shutdown caused by a Ukrainian attack.
Fresh data from the American Petroleum Institute indicated a significant build in U.S. crude stockpiles, with inventories rising by 4.4 million barrels for the week ending November 18—more than triple the previous week’s increase. Early signals suggested that gasoline and distillate inventories may have climbed as well, reinforcing concerns of an emerging supply overhang heading into early 2026. Analysts noted that while production remains elevated globally, demand growth may not keep pace, potentially leaving the market oversupplied. ING analysts described the report as “relatively bearish” but emphasized that traders are now awaiting the U.S. Energy Information Administration’s official inventory figures, which are often more influential in market movements.
At the same time, traders are closely watching the impending U.S. sanctions on Russia’s Rosneft and Lukoil, set to take effect on November 21. These measures will restrict access to U.S.-dollar financing and limit transactions with the companies, raising concerns about potential disruptions to Russian diesel and crude supply. Analysts noted that fears over tightening Russian supply—amplified by Ukrainian attacks on Russian refineries—continue to support market sentiment despite the broader bearish inventory data.
Adding a geopolitical twist, an Axios report suggested that the Trump administration has been quietly coordinating with Moscow on a proposal to end the war in Ukraine. Any diplomatic breakthrough could reshape global oil supply expectations, reduce the geopolitical risk premium, and potentially weigh on crude prices in the months ahead.
