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AFP© AFP/File | Japanese stocks led the way but trading volumes were light on Easter holiday
HONG KONG (AFP) – Tokyo stocks led Asian markets higher on Monday, shrugging off disappointing business confidence data to climb slightly higher in thin holiday trade.With no direction from Europe or Wall Street — both closed for Easter holidays at the end of last week — Japan’s benchmark Nikkei 225 index opened in slight negative territory but soon moved into the green. 349 more words
- Oil prices were set to fall this week, with both benchmarks dropping slightly on Friday.
- Investors were concerned rising supply from the U.S. and other nations threatened to undermine efforts by OPEC and other producers to tighten the market.
- U.S. crude oil production soared past 10 million barrels per day (bpd) in late 2017, overtaking output by top exporter Saudi Arabia.
- U.S. production is expected to rise above 11 million bpd by late 2018, taking the top spot from Russia, according to the International Energy Agency.
- Stronger dollar makes oil costlier for some buyers
- API report showed lower U.S. crude inventories
Oil pumpjacks in silhouette at sunset.
Oil prices fell on Thursday, dragged lower by a firmer dollar that offset support from a surprise decline in U.S. 365 more words
- Dollar steadies against other leading currencies
- Ongoing OPEC-led output cuts provide some support
- Brent, WTI move in sync
An oil pump jack in the oil town of Gonzales, Texas. 445 more words
- Oil prices on Monday fell on the back of a stronger dollar.
- The dollar index rose on the back of a better-than-expected U.S. payrolls report.