S&P Global Revises Mexico Credit Outlook to Negative Amid Rising Debt Concerns 
U.S. Urges China to Help Curb Iran’s Actions in Gulf, Rubio Says 
Havana Protests Erupt as Cuba Faces Severe Blackouts and Fuel Crisis 
ASX Names Former Euronext Executive Anthony Attia as New CEO 
Wall Street Futures Rise Ahead of Trump-Xi Summit as Tech Stocks Lead Market Rally 
Asian Currencies Steady as Trump-Xi Summit, Inflation Concerns Boost Dollar 
Japan Considers Extra Budget Aid Amid Rising Fuel and Utility Costs 
Australia Housing Tax Reform Sparks Debate Over Property Investor Tax Breaks 
Dollar Gains as Fed Rate Hike Bets Rise Ahead of Trump-Xi Summit 
Trump Pushes China Market Access During High-Stakes Xi Summit 
US, Japan Reaffirm Strong Currency Coordination Amid Yen Volatility 
Trump and Xi Temple of Heaven Visit Highlights Trade and Diplomacy Goals 
Asian Currencies Hold Steady as Strong U.S. Inflation Data Boosts Dollar 
BOJ Rate Hike Expectations Grow as Board Member Signals Hawkish Stance 
US-China Trade Talks Begin in South Korea Ahead of Trump-Xi Beijing Summit 
Gold Prices Hold Steady as Investors Monitor U.S.-Iran Tensions and Trump-Xi Summit 
Oil Prices Slip as Strait of Hormuz Disruptions and U.S. Inventory Data Keep Markets on Edge 
Oil prices climbed sharply during early Asian trading on Monday as geopolitical tensions in the Middle East intensified following a drone strike near the UAE’s Barakah nuclear power plant. The incident has heightened concerns over global oil supply disruptions and increased fears of a wider regional conflict involving Iran, the United States, and Israel.
Brent crude futures for July delivery jumped 1.3%, reaching $110.71 per barrel by 19:42 ET (23:42 GMT). The rise in crude oil prices comes amid growing uncertainty surrounding the ongoing Iran conflict and the continued closure of the Strait of Hormuz, a critical route for global energy shipments.
Reports indicated that Iran and allied proxy groups were likely behind the drone attack that triggered a fire near the UAE nuclear facility on Sunday. The strike followed earlier missile and drone attacks launched by Iran against the UAE this month, further escalating military tensions across the Gulf region.
U.S. President Donald Trump intensified pressure on Tehran by warning that the “clock is ticking” for Iran to agree to a diplomatic deal. Meanwhile, sources revealed that the U.S. and Israel are actively discussing additional military operations targeting Iran, raising fears of broader instability in the Middle East oil market.
The Strait of Hormuz has remained effectively closed since late February after Iran blocked the strategic waterway. The disruption has severely impacted oil shipments to Asia, supporting higher crude prices as supply concerns continue to dominate the market.
Efforts to ease tensions through diplomacy have shown little progress. A recent U.S.-China summit produced no major breakthroughs regarding the Iran crisis, while ceasefire negotiations between Washington and Tehran remain stalled.
Analysts expect oil market volatility to remain elevated as investors closely monitor developments surrounding the Iran war, Middle East security risks, and global energy supply chains.
