Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Oil prices plunged in Asian trading Monday after OPEC+ surprised markets with a larger-than-expected production increase, raising concerns of a looming supply glut amid weakening global demand.
Brent crude futures for June dropped 3.6% to $59.10 a barrel, while West Texas Intermediate (WTI) fell 3.7% to $55.68. The decline puts oil near the four-year lows seen in early April, compounding losses already sustained in 2025.
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced over the weekend a 411,000 barrels per day (bpd) output increase starting in June—nearly triple the volume initially expected. Saudi Arabia and Russia, two of the group’s largest producers, are set to lead the ramp-up, fueling fears of oversupply despite ongoing geopolitical tensions in the Middle East.
The market largely brushed off fresh threats from Israeli Prime Minister Benjamin Netanyahu toward Iran, focusing instead on the bearish fundamentals of rising supply and sluggish demand.
Oil has already been under pressure this year due to macroeconomic uncertainty and escalating trade tensions between the U.S. and China. President Donald Trump’s aggressive tariff strategy—especially the imposition of 145% tariffs on Chinese oil imports—triggered retaliatory measures from Beijing, including 125% duties, further destabilizing trade flows and dampening demand expectations.
Even as Washington and Beijing expressed limited interest in renewed trade talks last week, market sentiment remained cautious. Analysts warn that Trump’s protectionist policies could stall global economic growth, reducing energy consumption and extending oil’s bearish streak.
With rising output and slowing demand, the oil market appears increasingly vulnerable to further downside. Traders are now closely watching for additional policy shifts or signs of demand recovery before reassessing oil’s trajectory.
