Overview

• The U.S. imposed new sanctions on Iranian shipping magnate Seyed Asadoollah Emamjomeh, targeting his network responsible for exporting oil and LPG worth hundreds of millions of dollars.
• Oil prices rose nearly 2% on Tuesday and extended gains early Wednesday before retreating slightly due to Kazakhstan's defiance of OPEC+ output quotas.
• U.S. crude oil inventories fell by approximately 4.6 million barrels last week, according to American Petroleum Institute data, exceeding analyst expectations of an 800,000-barrel decline.
• President Trump softened his stance on Federal Reserve Chair Jerome Powell and hinted at potential tariff reductions on Chinese imports, boosting market sentiment.
• Kazakhstan's energy minister reaffirmed the country's priority of national interests over OPEC+ quotas, raising concerns over the group's supply coordination efforts.