Oil Advances as U.S. Drill Rig Count Drops to Lowest Since 2010

Oil advanced as the number of active drill rigs in the U.S. dropped to the lowest level since 2010. Futures climbed as much as 1 percent in New York after capping the biggest weekly gain since 2011 on Friday. Rigs targeting oil in the U.S. fell by 26 to 734 last week, according to Baker Hughes Inc. International inspectors won’t be given access to Iran’s military bases in a deal with world powers to curb the nation’s nuclear program,...

Aussie Rises With Copper, U.S. Futures on China Stimulus Move

The Australian dollar climbed with futures on copper and U.S. stocks after China stepped up stimulus, cutting the reserve-requirement ratio for banks amid a slowing economy. Chinese index futures slumped at the end of last week after the country tightened rules around margin trading. The Aussie added 0.4 percent to 78.10 U.S. cents by 9:53 a.m. in Sydney, with China the nation’s biggest trading partner. Copper futures jumped 1.7 percent,...

China cuts bank reserves again to counter slowdown

China's central bank on Sunday cut the amount of cash that banks must hold as reserves, the second industry-wide cut in two months, adding more liquidity to the world's second-biggest economy to help spur bank lending and combat slowing growth. The People's Bank of China (PBOC) lowered the reserve requirement ratio for all banks by 100 basis points to 18.5 percent. The reduction is effective from April 20, the central bank said in a statement...

Asia Stocks Drop While China Stimulus Move Boosts Metals, Aussie

Asian stocks fell, led by Japan, following a selloff in U.S. and European shares Friday. Metals climbed with Australia’s dollar after China stepped up stimulus, cutting the reserve-requirement ratio for banks amid a slowdown. The MSCI Asia Pacific Index slipped 0.3 percent by 9:20 a.m. in Tokyo, as Japan’s Topix gauge dropped to a two-week low. Standard & Poor’s 500 Index futures gained 0.2 percent after a 1 percent slump in MSCI’s...

Japanese Shares Follow Global Slump as Developers Lead Declines

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