Public Markets 3h Briefing
×Oil Markets
Oil futures wsj.com fell in early Asian trade after Treasury Secretary Bessent unveiled a stopgap measure to ease pressure from Iran's attempt to "take global energy hostage." Brent crude bloomberg.com could cross the $100 threshold if the Strait of Hormuz experiences several weeks of disruption, according to Goldman Sachs Natural Gas Research Head Samantha Dart. US-sanctioned Russian LNG tankers bloomberg.com are redirecting away from the Mediterranean Sea after one was allegedly attacked by Ukrainian drone boats.
Regional Impact
Asia's biggest economies ft.com are rushing to secure oil and gas supplies as Middle East conflict chokes flow. The Philippines bloomberg.com is looking at ways to save on energy, suggesting people use air conditioners less as tensions push global fuel costs higher. Foreign banks bloomberg.com attracted to India's nearly $4 trillion economy are discovering access comes with strict conditions including limited control and drawn-out returns.
Currency & Reserve Markets
Most Asian currencies wsj.com strengthened against the dollar in early Asian trade. Asia's $8 trillion in foreign-exchange reserves bloomberg.com are giving central banks more firepower to defend their currencies as the escalating Middle East war drives up energy prices. Gold wsj.com edged higher on a possible technical recovery after front-month futures fell 1.1% overnight.
Safe Haven Assets
Traditional safe havens bloomberg.com - Treasuries, the yen, the Swiss franc, and gold - have offered investors no refuge this week. Gold bloomberg.com was on track for the first weekly loss in more than a month, pressured by a stronger US dollar and inflationary risks tied to the ongoing Middle East war. Gold investing.com held losses as strong dollar strength outweighed haven demand.
Corporate & Regulatory News
Petrobras bloomberg.com surpassed profit expectations after robust oil production and record exports helped cushion the impact of weaker crude prices. Sushiro parent company bloomberg.com shares fell the most in more than three months after Chinese authorities inspected one of its outlets in Beijing over suspected food contamination. The FDA wsj.com is under fire from lawmakers for recent delays and rejections of new drugs for rare diseases.
US Policy & Markets
The US bloomberg.com issued a general license to allow for some Russian oil sales to India, giving the nation more options to purchase fuel as escalating conflict cuts off major producing routes. Trump ft.com said Iran wants to "make a deal" to end the war, while Iran's foreign minister said the country is not asking for a ceasefire. Bond investors bloomberg.com are focused on inflation since the Iran war began, saying a surprise in the monthly US jobs report could upend expectations for Federal Reserve interest rates.