Asia Markets Stumble as Trade Talks Hit a Wall—Oil Tumbles on Supply Glut

Trade tensions and an oil surplus slam Asian equities.

Here’s why traders are sweating:

• Stalled negotiations: No breakthrough in sight as US-China talks falter—again. Classic.

• Black gold bleed: Crude prices tank as OPEC+ opens the taps wider. Because nothing says 'stable markets' like a supply shock.

Meanwhile, crypto traders shrug and buy the dip—proving once more that decentralized assets don’t wait for permission to move. Wall Street’s loss, our gain.

Gold dips despite weekly gain while oil prices weaken

In commodity markets, Gold eased 0.3% to $3,324 an ounce, despite a nearly 2% gain last week as the dollar softened.

Oil prices fell further after OPEC and its partners, collectively known as OPEC+, agreed on Saturday to raise production by 548,000 barrels per day in August. The group also flagged a similar increase in September, a MOVE seen as aimed at squeezing higher-cost U.S. shale producers.

“We see OPEC+ targeting Brent oil futures around $60–65 per barrel as a result,” said Vivek Dhar, an analyst at Commonwealth Bank of Australia. Such a range would challenge the viability of some U.S. shale operations and curb non-OPEC+ supply growth.

By Monday’s close, Brent traded lower by 52 cents at $67.78 per barrel, and U.S. crude fell down $1.01 at $65.99 a barrel.

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