Oil

• Crude oil prices remained stable near $82 on Thursday, despite a second commercial vessel being attacked in the Strait of Hormuz. • Iran and Oman are scheduled to meet next week to negotiate a deal regarding the establishment of fees for ships using the waterway. • The situation is critical as rising energy and pump prices are increasing political pressure on U.S. officials ahead of the November congressional midterm elections.

• Asian stock markets experienced a rebound as oil prices declined, providing a lift to regional equities. • Investors are closely monitoring the market in anticipation of Nvidia's upcoming earnings report, which is expected to influence tech sector trends. • Market participants are also awaiting a critical interest rate decision from Thailand's central bank.

• Asian stock markets rebounded across the region, with South Korea’s KOSPI leading gains at 1.2%, followed by Japan’s Nikkei 225 (+0.7%) and Hong Kong’s Hang Seng (+0.8%). • The recovery was driven by a stabilization in oil prices, which helped ease investor concerns regarding inflation. • Technology-heavy markets saw the most significant relief as investors positioned themselves ahead of the highly anticipated earnings report from Nvidia.

The once world-leading producer of crude oil has plunged into an energy crisis as Kyiv targets its refineriesA sanctioned shadow fleet tanker carries oil from Nato member Turkey to a Russian Baltic port. A deal is signed for Russian oil to be processed in Kazakhstan. Fuel cargoes arrive from India via Egypt. The Kremlin pressures allies to sell it badly needed fuel.The data points may be diverse, but they point to a single inescapable conclusion. Continue reading...

• President Trump asserted that the financial strength of the U.S. and the implementation of sanctions will lead to a "very big victory" over Iran. • Amidst the geopolitical tension, Trump clarified that he does not believe Iran's supreme leader has passed away. • Simultaneously, two major petrochemical facilities in southwestern Iran have suspended production to combat power shortages caused by a severe heat wave.

Christian Castro is charged in Minnesota with assault and falsely reporting a crime by anotherSign up for the Breaking News US newsletter emailA US Immigration and Customs Enforcement (ICE) agent accused of firing his gun and wounding a Venezuelan man in the leg is caught in an interstate extradition dispute between Texas and Minnesota – and could walk out of a Texas jail as soon as Wednesday if a federal judge does not intervene.Christian Castro is charged in Minnesota with assault and falsely reporting a crime by another, in relation to the incident where he was involved in the wounding of 24-year-old Julio Cesar Sosa-Celis in January. Continue reading...

• Asian stock markets are positioned for gains as oil prices continue to decline, providing relief to investors after persistent inflation and high yields pressured risk appetite. • Market attention is heavily focused on upcoming earnings reports from Nvidia, which are expected to serve as a key indicator for the tech sector. • LPL Financial chief economist Jeffrey Roach warns that while employment remains solid, fading expectations for income growth could hinder future consumer spending.