Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
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 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
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 
American drivers are seeing welcome relief at the gas pump as gasoline prices continue to decline following improved diplomatic relations between the United States and Iran. According to fuel price tracker GasBuddy, the national average price of gasoline fell by 14.1 cents per gallon over the past week, reaching $3.85 per gallon on Monday. This marks the sixth consecutive week of declining fuel prices and represents a 15% decrease from the peak levels recorded in May.
The drop in gasoline prices has been widespread across the country. Colorado experienced one of the largest weekly declines, with prices falling by 25 cents per gallon. Arizona saw a decrease of 22 cents, while Ohio recorded a 21-cent drop, highlighting a broader trend of easing fuel costs for consumers.
Lower gas prices could provide a political boost for President Donald Trump and Republican lawmakers as they prepare for November’s midterm elections. Rising fuel and consumer prices have been a key concern for voters, making recent declines an important economic development.
Market analysts caution that while the current trend is encouraging, risks remain. Alex Hodes, an analyst at StoneX, noted that falling fuel prices may help reduce inflationary pressures. However, he warned that expectations of normal energy shipments through the Strait of Hormuz rely on the assumption that tensions in the region will continue to ease.
Although some oil tankers resumed transit through the Strait of Hormuz on Monday, shipping activity remains below pre-conflict levels. GasBuddy’s head of petroleum analysis, Patrick De Haan, said gasoline prices are unlikely to surge in the immediate future as long as energy supplies continue flowing through the strategic waterway. However, renewed geopolitical tensions between the U.S. and Iran could quickly reverse recent gains.
Additional supply risks also remain in focus. Refinery disruptions in Texas, including outages at facilities operated by TotalEnergies and Marathon Petroleum, could tighten fuel supplies. Meanwhile, the approaching Atlantic hurricane season may create further uncertainty for oil and gasoline markets, potentially impacting prices in the months ahead.
