US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
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 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Oil prices held steady in Asian trading on Friday, following sharp gains driven by drone strikes on Iraqi oil fields and signs of tightening global supply. Brent crude futures for September remained unchanged at $69.51 per barrel, while West Texas Intermediate (WTI) crude stayed flat at $67.51.
Despite rising over 1.5% on Thursday, oil benchmarks were still on track for weekly losses exceeding 1%, pressured by geopolitical developments. U.S. President Donald Trump eased sanctions threats against Russia, granting a 50-day deadline to end the Ukraine conflict, which trimmed bullish momentum seen earlier in the week.
Supply concerns resurfaced as drone attacks, reportedly launched by Iran-backed militias, disrupted about half of Iraqi Kurdistan’s crude output. However, Iraq’s federal government announced progress in talks with the Kurdistan Regional Government, signaling a potential resumption of oil exports to Turkey after a two-year pause.
Further support came from the latest U.S. Energy Information Administration (EIA) data, which showed crude inventories fell by 3.9 million barrels last week—more than double analysts’ expectations. This decline underscores tightening conditions amid high summer demand.
OPEC maintained its oil demand forecasts for 2025 and 2026, citing optimism that global trade tensions may ease. Last week, oil prices climbed nearly 3% as the International Energy Agency (IEA) pointed to a tight prompt market, even as OPEC+ output exceeded expectations.
While rising output typically signals easing prices, the IEA warned that increasing refinery activity to meet seasonal demand could mask the true extent of supply constraints. This dynamic, combined with ongoing geopolitical risks, continues to support oil prices despite recent volatility.
