EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
U.S. Stock Futures Slip After CPI-Fueled Rally as Markets Weigh Economic Uncertainty 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
Oil Prices Steady in Asia but Headed for Weekly Loss on Supply Glut Concerns 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
Canada Signals Delay in US Tariff Deal as Talks Shift to USMCA Review 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
Japan Inflation Holds Firm in November as BOJ Nears Key Rate Hike Decision 
Oil prices held steady early Wednesday as uncertainty over escalating U.S.-China trade tensions and their potential impact on global economic growth kept markets cautious. Brent crude futures edged up 5 cents to $64.72 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 3 cents to $61.36. Both benchmarks fell 0.3% the previous day.
The International Energy Agency (IEA) forecast the slowest global oil demand growth in five years, citing rising U.S. tariffs and retaliatory measures from trade partners. The IEA now expects global demand to rise by only 730,000 barrels per day (bpd) in 2025—down from last month’s estimate of 1.03 million bpd. This revision follows a similar cut by OPEC on Monday.
Market analysts note that unless stock markets recover from tariff-related pressures, crude prices may remain subdued. Tetsu Emori, CEO of Emori Fund Management, said a rebound could push WTI above $65, but without that support, prices may linger in the low $60s.
The trade war between the U.S. and China is already weighing on the energy market. President Trump’s steep tariffs on Chinese imports—now reaching 145%—have triggered swift retaliatory moves from Beijing, including halting new Boeing aircraft orders. Fears of a broader global recession are mounting.
Oil prices have dropped about 13% this month due to rising supply from OPEC+ and weaker demand forecasts. Major banks like UBS, HSBC, and BNP Paribas have cut their crude price outlooks accordingly.
Meanwhile, U.S. crude inventories rose by 2.4 million barrels last week, according to the American Petroleum Institute, while gasoline and distillate stocks fell by 3 million and 3.2 million barrels, respectively, reflecting shifting supply dynamics.
