Jefferies Names 6 Top India Stock Picks Across Key Sectors 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
South Korea GDP Surges on Chip and AI Boom 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
China to Inject $45 Billion Into State Financial Institutions 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
UK House Prices Fall for First Time Since 2023 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
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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.
