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WTO Ministerial Collapse Leaves Global Digital Trade Rules in Limbo 
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Oil Prices Surge to Record Monthly Highs as Middle East War Rattles Global Markets 
China Manufacturing PMI Hits 12-Month High Amid Energy Price Concerns 
Japan Business Sentiment Rises as Iran War Fuels Inflation Fears, BOJ Rate Hike Looms 
Dollar Surges to Monthly High as Middle East Conflict Rattles Global Markets 
U.S. Stocks Surge on Iran War De-escalation Hopes 
Goldman Sachs Sees Value in European Real Estate Stocks Despite Sharp Selloff 
Canada's Economy Grows Modestly in January 2025, Driven by Energy and Construction 
U.S. Dollar Posts Strong Monthly Gain Amid Middle East Conflict Despite Late Dip 
Bessent: Global Oil Market Well Supplied as U.S. Eyes Hormuz Navigation Control 
Asian Currencies Hold Steady Amid U.S.-Israel-Iran Tensions and BOJ Signals 
South Korea's $17.3 Billion Emergency Budget Targets Oil Price Surge 
Dollar Surges to Nine-Month High as Middle East Tensions Drive Safe-Haven Demand 
Gold Prices Rebound in Asia Amid Iran War Ceasefire Hopes 
RBC Capital: European Medtech Firms Show Minimal Middle East and Energy Risk Exposure 
Oil prices were mostly steady during Asian trading on Friday, yet both benchmark crude contracts remained on track for weekly losses after a sharp selloff in the previous session. Brent crude futures for April delivery edged up 0.1% to $67.56 per barrel, while West Texas Intermediate (WTI) crude rose 0.1% to $62.87 per barrel. Despite the modest rebound, both benchmarks fell nearly 3% in the prior session, positioning them for around a 1% decline for the week.
Market sentiment has been pressured by growing concerns about a potential global oil supply glut. The International Energy Agency (IEA), in its latest monthly oil market report, projected a surplus of more than 3.7 million barrels per day in 2026. The agency also noted that global oil inventories increased significantly last year, marking one of the fastest stockpile builds since the pandemic. Rising inventories and resilient non-OPEC production have intensified fears of prolonged oversupply in the global energy market.
Adding to bearish sentiment, the U.S. Energy Information Administration (EIA) reported an 8.53 million barrel jump in crude inventories this week, far exceeding market expectations and representing the largest build since January 2025. The sharp increase signals softer refinery demand and abundant supply in the United States, the world’s largest oil consumer.
Meanwhile, geopolitical developments remain in focus. Comments from former U.S. President Donald Trump suggesting that negotiations over a potential U.S.-Iran nuclear deal could extend for up to a month reduced immediate concerns about supply disruptions from the Middle East. This tempered the geopolitical risk premium that had previously supported crude oil prices.
Investors are also awaiting key U.S. consumer price index (CPI) data, which could influence Federal Reserve interest rate decisions. Strong January jobs data has already dampened expectations for near-term rate cuts, adding another layer of uncertainty to the oil market outlook.
