Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Oil prices remained subdued in Asian trade on Friday, hovering near their lowest levels this year as fears of increased U.S. trade tariffs rattled global markets. Brent crude futures for May edged up 0.2% to $69.60 a barrel, while WTI crude rose to $66.11 a barrel, stabilizing after hitting a three-year low.
Both Brent and WTI futures were on track for their worst weekly drop since October, with losses exceeding 4.5% for the week. Investor sentiment weakened after the U.S. imposed higher trade tariffs on major economies, including China, raising fears of slowed economic growth and reduced oil demand. In retaliation, China and Canada introduced countermeasures, with Mexico set to follow suit.
Adding to bearish pressures, OPEC+ voted to modestly increase oil production, signaling potential further hikes. Despite the move being limited, it hinted at a shift away from the cartel’s prior supply cuts, which had taken over 5 million barrels per day off the market to support prices.
Meanwhile, U.S. oil inventories rose more than expected, further weighing on crude prices. The market is now awaiting key U.S. economic data, particularly February’s nonfarm payrolls, for insights into potential demand trends.
Geopolitical risks offered little support, with the ongoing Russia-Ukraine war failing to significantly impact crude markets. The U.S. halted military aid to Ukraine, pending a new agreement with Kyiv.
Overall, oil markets remain under pressure from trade disputes, supply concerns, and demand uncertainty, setting crude up for continued volatility.
