Oil Prices Slide as U.S.-Iran Deal and Hormuz Reopening Ease Supply Concerns 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Gold Prices Slide as Hawkish Fed and Strong Dollar Weigh on Bullion 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Oil prices remained stable in Asian trading on Friday, holding onto gains from the previous session amid optimism over new U.S. trade agreements and expectations of Russian gasoline export cuts. Brent crude futures for September rose 0.2% to $69.29 per barrel, while West Texas Intermediate (WTI) crude edged up 0.2% to $66.13 per barrel as of 21:31 ET (01:31 GMT). Both benchmarks jumped over 1% on Thursday following data showing a sharp drop in U.S. crude inventories.
Market sentiment was lifted by reports of progress in trade talks between the U.S. and European Union, with a potential agreement replacing a previously threatened 30% tariff with a reduced 15% levy. India also signaled optimism about avoiding proposed U.S. tariffs, while Washington and Tokyo finalized a deal cutting import tariffs on Japanese goods to 15% from 25%. Analysts at ING noted that easing trade tensions could boost global demand, supporting oil consumption through increased transportation and industrial activity.
Additional support came from expectations that Russia will tighten restrictions on gasoline exports to curb rising domestic prices, potentially disrupting supply. This follows Thursday’s report of U.S. plans to allow limited oil operations in Venezuela, starting with Chevron, which could add over 200,000 barrels per day to U.S. refiners seeking heavier crude.
Traders are closely monitoring these developments as they weigh the impact of trade deals, Russian export measures, and potential Venezuelan supply on the broader supply-demand outlook for crude oil. The combination of easing trade tensions and potential supply disruptions could provide continued support for prices in the near term.
