Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Oil prices were mostly steady during Asian trading on Friday, following a sharp selloff in the previous session that erased most of the gains recorded earlier in the week. The stabilization in crude markets came as geopolitical tensions eased after U.S. President Donald Trump downplayed the likelihood of military action against Iran, reducing fears of supply disruptions from the Middle East.
Brent crude futures for March delivery edged up around 0.2% to trade near $63.86 per barrel, while West Texas Intermediate (WTI) crude futures gained approximately 0.3% to around $59.35 per barrel. Despite these modest gains, both benchmark oil prices remained on track to end the week largely flat after plunging more than 4% in the prior session.
Oil prices had previously surged to multi-month highs earlier in the week amid widespread anti-government protests in Iran, one of the largest oil producers within OPEC. Markets feared that escalating unrest could disrupt Iranian crude exports, tightening global oil supply. These concerns were further intensified after Trump issued strong warnings regarding the use of force against protesters, which traders interpreted as increasing the risk of U.S. military intervention.
However, sentiment shifted on Thursday when Trump clarified that the United States was not planning any immediate military action against Iran. His comments helped deflate the geopolitical risk premium that had been priced into oil markets, triggering a sharp correction in crude prices as investors reassessed supply risks.
Additional pressure on oil prices came from developments in Venezuela. The U.S. administration has signaled a softer stance toward the country, supporting its continued participation in OPEC and allowing Venezuelan oil exports to resume more fully. According to a Reuters report, Venezuela’s state-owned oil company PDVSA has begun rolling back production cuts imposed during a strict U.S. embargo, with exports restarting under U.S. oversight. Shipments had previously fallen to near zero, leaving Chevron as the only exporter operating under a special license.
Any increase in Venezuelan oil supply would add to an already well-supplied global market. This concern was reinforced by recent U.S. inventory data showing higher crude oil and fuel stockpiles, further weighing on oil prices and highlighting ongoing oversupply pressures.
