Saudi Arabia trimmed the price of its flagship crude for Asian buyers as talks progress on an agreement to ease shipping pressure in the Strait of Hormuz. A pricing schedule showed Saudi Aramco cut Arab Light for next month’s Asia cargoes by $0.50/bbl to $2.00/bbl below the regional benchmark. The cut comes despite Houthi threats to Red Sea eastbound oil routes. A prior survey had shown traders expected Aramco to keep its flagship price unchanged. Brent has slid sharply this week, trading near $

Prime Minister Takaichi said she will restore the food consumption tax to 8% after two years to preserve market trust and fiscal sustainability. The cabinet on Wednesday approved a plan to temporarily cut the consumption tax on food and non‑alcoholic beverages from 8% to 1%, effective April next year, as a transition until a new tax‑credit system due in 2029. The government has not specified how it will cover an estimated annual revenue shortfall of more than 4 tln yen, leaving funding and fiscal risk as market concerns.

Singapore Trade Minister Gan Kim Yong said about one-third of Singapore’s exports to the United States will be subject to the newly imposed 12.5% tariff, affecting roughly S$95 billion (about US$7.4 billion) of goods, including optical instruments and chemical products.