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Oil Prices Ease as Markets Weigh U.S.-Iran Peace Deal and Strait of Hormuz Reopening 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
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Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
Trump Questions USMCA Renewal as Trade Talks Continue 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Asian Stocks Advance as Nikkei Nears Record High Ahead of Fed Decision 
ASX Proposes New Share Dilution Limits for Public Takeovers 
Global oil prices swung sharply on Monday as markets grappled with mounting fears over supply disruptions tied to the escalating U.S.-Israel military conflict with Iran. After surging nearly 3% earlier in the session, crude benchmarks reversed course following statements from U.S. President Donald Trump urging international cooperation to keep the Strait of Hormuz open for global trade.
Brent crude, the global oil benchmark, edged up 0.2% to $103.41 per barrel, while U.S. West Texas Intermediate fell 0.5% to $96.40 per barrel as of early Monday trading. The volatile price action reflects deepening uncertainty surrounding one of the world's most critical energy chokepoints.
Trump announced over the weekend that the White House had engaged seven countries, including China, in discussions about jointly securing the Strait of Hormuz — a waterway responsible for roughly one-fifth of global oil supply. Despite Trump characterizing the mission as manageable given Iran's reduced military capacity, both Japan and Australia declined to deploy warships to the region. Major container shipping firms have also pulled back from the strait, citing crew safety risks and insurability concerns.
Tensions escalated further after U.S. forces struck Kharg Island, the hub through which approximately 90% of Iran's oil exports flow. Trump confirmed the strike targeted military assets and warned that oil infrastructure could be next. Iran responded swiftly with missile and drone attacks across the Persian Gulf, hitting population centers and U.S. military installations. Tehran maintained that the strait would remain closed until all U.S. and Israeli strikes on Iranian soil cease.
Adding to the pressure on global energy markets, the United Arab Emirates reported a second consecutive drone strike on its oil-industry zone in Fujairah. In response to potential supply shocks, the International Energy Agency announced it would release approximately 412 million barrels from emergency reserves to help stabilize the market.
