Oil prices moved toward recording their first consecutive weekly loss in 2026 as concerns over tensions with Iran eased and risk aversion strengthened across global markets. The International Energy Agency warned that the global market could face a surplus of about 3.7 million barrels per day in 2026, indicating that supply growth has outpaced demand. At the same time, slowing global demand growth and increased production following the easing of OPEC Plus restrictions have reinforced expectations of market saturation and added downward pressure on prices. Overall, reduced geopolitical risk, combined with surplus supply projections, has been the main factor weakening oil prices and keeping the market volatile.

Sara Hunter, senior official at the Reserve Bank of Australia, stated that although the labor market has stabilized, it remains tight and capacity pressures continue, She said this situation is expected to persist and inflation will remain above target for a while, The Reserve Bank emphasized it is examining to what extent the recent rise in inflation is temporary.

The British economy grew only 0.1 percent in the final quarter of 2025, below expectations and increasing pressure on Starmer’s government. The weak growth was largely offset by higher government spending, while business investment declined, household consumption remained subdued, and the services sector effectively stalled. Overall, the economy expanded about 1.3 percent in 2025, but the growth was uneven and slowed markedly in the second half after a stronger performance in the first half of the year.

Today at 17:00 (GMT+3:30), the US January inflation report will be released. After the January employment report, markets became uncertain about the path of monetary policy and expectations for rate cuts declined. Today’s inflation data could provide greater clarity on the policy outlook. The market expects both headline and core inflation to rise by 0.3 percent.