Oil Trades Near $60 a Barrel as U.S. Drillers Add Onshore Rigs

Oil traded near $60 a barrel as explorers in the U.S. increased drilling activity for the first time since November. Futures were little changed in New York after falling 1.7 percent on Friday. The number of onshore rigs climbed by three to 853, while total machines targeting oil slid by one, data from Baker Hughes Inc. showed. Venezuela is working with OPEC members to boost prices, President Nicolas Maduro said in a national address. Oil’s ...

Gold Drops Toward $1,200 as Interest Rate Outlook Boosts Dollar

Gold fell, extending the biggest weekly loss since April, as prospects for the first U.S. interest rate rise since 2006 helped to push the dollar to a one-month high. Silver, platinum and palladium declined. Bullion for immediate delivery lost as much as 0.3 percent to $1,202.95 an ounce and traded at $1,203.45 at 8:54 a.m. in Singapore, Bloomberg generic pricing showed. The metal...

Japan Exports Rise More Than Forecast as Shipments to U.S. Jump

Japanese exports rose more than forecast in April, providing support for an economy that’s expanded for two straight quarters after a recession in 2014. The value of overseas shipments rose 8 percent from a year earlier, the Ministry of Finance said on Monday, compared with a median estimate for a 6 percent increase. Imports slid 4.2 percent, leaving a 53.4 billion yen ($440 million) trade deficit. Japan’s exports exceeded imports in...

Japanese Stocks Rise After Yen Slides on U.S. Inflation

Japanese stocks rose for a seventh day after the yen weakened as a report showed U.S. inflation firmed and Federal Reserve Chair Janet Yellen said she expects to raise interest rates this year. Toyota Motor Corp., which gets more than three-quarters of its sales overseas, was the biggest boost to the Topix index. Tokyo Electric Power Co. jumped 5.1 percent after a report the utility won an order to build a gas-fired power plant and...

Shanghai Composite Rallies to Seven-Year High as Smallcaps Drop

The Shanghai Composite Index rallied for a fifth day to a seven-year high as investors sought financial companies and other underperformers this year, while rotating out of overvalued, small-company stocks. The Shanghai Composite climbed 1.5 percent to 4,729.12 at 9:51 a.m. It advanced 8.1 percent last week, the biggest gain since the week ended Dec. 5, amid speculation the government may escalate measures to stimulate the economy....