China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Oil prices held largely steady in Asian trading on Wednesday, recovering slightly after a sharp drop in the previous session. Traders assessed a smaller-than-expected decline in U.S. crude inventories alongside renewed optimism surrounding potential progress in Russia-Ukraine peace talks—two factors that continue to shape sentiment across global energy markets. Brent oil futures for January delivery inched up 0.2% to $62.60 a barrel, while West Texas Intermediate (WTI) crude futures rose 0.2% to $58.08. Both benchmarks fell nearly 1.5% on Tuesday, hitting their lowest levels in more than a month.
Fresh data from the American Petroleum Institute showed U.S. crude stockpiles slipped by 1.9 million barrels for the week ending November 21, below forecasts for a 2.4-million-barrel draw. The weaker-than-expected reduction fueled concerns about slowing year-end demand, particularly ahead of the holiday travel period. Gasoline inventories rose by 500,000 barrels, and distillate stocks climbed by 800,000 barrels, reinforcing signs of softer fuel consumption. Analysts at ING described the data as “largely neutral,” noting that both crude and gasoline changes missed expectations.
At the same time, geopolitical developments added pressure to prices. Ukrainian President Volodymyr Zelenskiy signaled readiness to move forward with a U.S.-backed peace framework aimed at ending the conflict with Russia. A revised proposal, discussed earlier this week in Geneva with U.S. and European officials, includes phased security guarantees. While Washington and Kyiv have expressed positive momentum, uncertainty remains over Russia’s stance, keeping markets cautious.
Hopes for a credible peace deal have raised the possibility of easing restrictions on Russian crude and refined product exports. Any return of additional supply could weigh on global oil prices, counteracting the limited support coming from U.S. inventory declines. Investors are now awaiting official U.S. government stockpile data and further updates on diplomatic efforts as they gauge the next direction for crude markets.
