Japan Wholesale Inflation Jumps as Energy Shock Drives Import Costs Higher 
Asian Currencies Slip as Stronger US Dollar, Iran Tensions Pressure Regional FX 
Iran Targets U.S. Bases in Bahrain, Kuwait as Hormuz Conflict Escalates and Oil Prices Jump 
Japan Eyes Bigger GPIF Investment in Domestic Assets as BOJ Independence Concerns Grow 
US Launches New Iran Strikes as Strait of Hormuz Conflict Escalates, Oil Prices Rise 
US Stock Futures Steady as US-Iran Tensions and Fed Inflation Concerns Weigh on Markets 
Japan Producer Inflation Hits 7.1% in June, Fueling BOJ Rate Hike Expectations 
Dollar Slips as Oil Prices Ease, Fed Rate Outlook Remains Uncertain 
Cuba Power Outage Sparks Havana Protests as Fuel Crisis Deepens 
Bernstein Raises 2026 Nickel Price Forecast as Indonesia Tightens Supply 
Gold Prices Slip as Stronger Dollar, Fed Rate Outlook Weigh on Bullion 
US Back-to-School Spending Seen Falling as Families Focus on Essentials 
US Stock Futures Steady as Middle East Tensions and Fed Minutes Keep Investors Cautious 
US Stock Futures Steady as Oil Prices Ease, Iran Talks Boost Market Sentiment 
Fed Chair Kevin Warsh Launches Task Forces to Overhaul U.S. Monetary Policy Framework 
Germany Seen Gaining as U.S. China-Built Ship Fees Reshape Trade 
Gold Price Climbs Over 1% as Dollar Weakens, Fed Rate Debate and Iran Tensions Remain in Focus 
Oil prices edged lower in early Friday trading but remained on course for solid weekly gains as geopolitical tensions between the United States and Iran continued to support the market, despite growing concerns that rising inflation could weaken global fuel demand.
Brent crude futures slipped 6 cents, or 0.08%, to $76.24 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 4 cents, or 0.06%, to $72.04 as of 0125 GMT. Even with the modest pullback, Brent was on track for a weekly gain of about 6%, while WTI was set to rise roughly 5%.
Oil markets remained focused on escalating tensions in the Middle East after Iranian armed forces launched attacks on U.S. military facilities in Gulf states on Thursday in response to recent U.S. strikes on targets in Iran’s southern coastal and eastern regions. Iranian media also reported multiple explosions across southern Iran, including near Bushehr, home to one of the country's nuclear power plants.
The latest military exchanges came as Iran buried its slain Supreme Leader Ayatollah Ali Khamenei, who was killed on the first day of the conflict on February 28. The renewed fighting has delayed the full reopening of the Strait of Hormuz, a vital shipping route that previously handled around 20% of global oil and gas supplies.
ANZ senior commodity strategist Daniel Hynes said markets found some relief after the Trump administration avoided targeting Iran's energy infrastructure during its latest military operations. Investor sentiment was further supported by President Donald Trump's comments that he does not expect the conflict to escalate into another full-scale war and believes any further hostilities would end quickly.
Meanwhile, economic data presented mixed signals for oil demand. In the United States, initial jobless claims declined last week, pointing to a resilient labor market characterized by steady hiring and limited layoffs. In China, however, producer price inflation climbed to a four-year high in June, raising concerns over manufacturing profitability as weak domestic demand continued to limit companies' ability to pass on higher costs. Rising inflationary pressures in the world's second-largest economy could weigh on future energy consumption, tempering the bullish impact of geopolitical risks on crude prices.
