Goldman Sees Foreign Investors Driving India Stock Market Recovery 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
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 
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 
Global oil prices climbed sharply on Wednesday as U.S. President Donald Trump intensified pressure on Iran, raising concerns over prolonged disruptions in the Middle East and tightening global energy supplies. Brent crude futures for August delivery rose 2.1% to $93.33 per barrel, while U.S. West Texas Intermediate (WTI) crude futures for July gained 2.4% to $90.27 per barrel.
The latest rally in crude oil prices followed Trump's remarks accusing Iran of delaying the signing of a negotiated peace agreement. The president warned that Tehran would face additional military action, stating that the United States would continue responding aggressively if progress toward a deal remained stalled. His comments dampened market hopes for a diplomatic resolution to the ongoing conflict, which has entered its fourth month.
Adding to market uncertainty, Trump disclosed a previously undisclosed U.S. military operation designed to help commercial vessels navigate the Strait of Hormuz. According to the president, more than 200 ships carrying over 100 million barrels of oil have safely passed through the critical waterway under U.S. protection. However, Energy Secretary Chris Wright later told lawmakers he was unaware of the operation, creating further questions about the mission.
Meanwhile, fresh economic data highlighted the growing impact of rising energy costs on the U.S. economy. Consumer inflation data for May showed energy prices jumping 23.5% year-over-year, while gasoline prices surged 40.5%, marking the strongest increases since 2022. Although headline inflation accelerated, softer core inflation readings eased some concerns among investors.
Supply concerns also supported higher oil prices. The U.S. Energy Information Administration reported that commercial crude inventories fell by 7.2 million barrels during the week ending June 5, significantly exceeding analyst expectations. Strategic Petroleum Reserve holdings declined to 349.2 million barrels, their lowest level since August 2023.
With geopolitical risks escalating, shrinking inventories, and persistent disruptions around the Strait of Hormuz, energy markets remain highly sensitive to developments in the Middle East, keeping oil prices elevated heading into the second half of 2026.
