Trump Administration

WTI and Brent eased in early Asian trading as the market assessed a US proposal that could reduce oil shipping costs. A large reported US crude draw and ongoing shipping risks near the Strait of Hormuz may still limit downside and keep key breakout levels in focus.

FinCEN has withdrawn a proposed rule that would have required banks and crypto businesses to report certain large transfers involving self-custody wallets. The agency also dropped a separate proposal focused on crypto mixers, saying the move supports a deregulatory push and more tailored digital-asset rules.

Washington is considering a plan to promote dollar-backed stablecoins overseas through partnerships with private companies. The strategy could increase demand for U.S. Treasuries while raising concerns over capital flight and pressure on emerging-market currencies.

WTI crude oil has moved sharply lower as traders react to signs of possible progress in Iran-US negotiations. Yet high open interest, Middle East uncertainty, and recent intraday reversals suggest the selloff may not be a simple one-way trade.