Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
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 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
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 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Oil prices remained steady on Tuesday as investors monitored rising geopolitical tensions following Iran’s naval drills near the Strait of Hormuz, a critical global oil transit route. The military exercises took place just hours before scheduled nuclear talks between Iran and the United States in Geneva, adding uncertainty to the global energy market outlook.
Brent crude futures slipped 0.2% to $68.59 per barrel after gaining 1.3% in the previous session. Meanwhile, U.S. West Texas Intermediate (WTI) crude traded at $63.73 per barrel, up 84 cents or 1.34%. The WTI move reflected Monday’s price activity, as there was no official settlement due to the U.S. Presidents Day holiday.
Market sentiment remains sensitive to developments in the Middle East, particularly around the Strait of Hormuz, which handles a significant portion of global crude oil exports. Iran, along with OPEC members Saudi Arabia, the United Arab Emirates, Kuwait, and Iraq, ships most of its oil through this strategic waterway, largely supplying Asian markets.
U.S. President Donald Trump stated he would be “indirectly” involved in the nuclear negotiations and expressed optimism about a potential agreement, though he previously suggested regime change in Iran could be beneficial. Analysts note that any diplomatic breakthrough could ease geopolitical risk premiums currently embedded in oil prices. Conversely, further escalation may drive crude prices higher.
According to ANZ analysts, oil markets remain unsettled amid broader geopolitical risks, including the Russia-Ukraine conflict. Citi analysts added that if disruptions to Russian supply keep Brent crude between $65 and $70 per barrel, OPEC+ may increase production using spare capacity. The group is reportedly considering resuming output hikes from April to prepare for peak summer demand.
Citi projects that potential diplomatic resolutions involving both Iran and Russia-Ukraine could push Brent prices down to the $60–$62 range later this year, signaling possible volatility ahead for global oil markets.
