Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
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.
