Oil Holds Losses Near 4-Week Low as Drop in U.S. Drilling Slows

Oil held losses near the lowest level in almost four weeks as the pace of U.S. drill rig reductions slowed in the world’s biggest crude consumer. Futures were little changed in New York after dropping 1.7 percent on Friday. The number of active machines targeting oil declined by 1 to 594, according to data from Baker Hughes Inc. Oil prices may climb to $60 a barrel by the end of next year, Ali Al Mansoori, the chairman of Abu Dhabi’s...

Gold Holds Decline as U.S. Rate Bets Weighed With Global Growth

Gold held declines after a three-day drop as investors weighed the prospect for higher U.S. borrowing costs against a dimming global economic outlook before a Federal Reserve meeting this week. Bullion for immediate delivery fell as much as 0.2 percent to $1,162.25 an ounce and was at $1,163.10 at 8:44 a.m. in Singapore, according to Bloomberg generic pricing. The metal sank to $1,159.05 on Friday, the lowest price since Oct. 13, as...

Asian Stocks Extend Two-Month High as China Cuts Interest Rates

Asian stocks rose after China’s central bank cut its benchmark lending rate, stepping up efforts to cushion a deepening economic slowdown. The MSCI Asia Pacific Index gained 0.3 percent to 136.15 as of 9 a.m. in Tokyo after closing Friday at the highest since Aug. 19. The gauge climbed 9.7 percent this month through the end of last week as investors pushed back expectations for...

Japanese Stocks Rise After China Rate Cut, Ahead of BOJ Meeting

Japanese stocks rose after China cut interest rates on Friday and amid speculation the Bank of Japan will also boost stimulus this week. The Topix index added 1.2 percent to 1,566.27 as of 9:01 a.m. in Tokyo, building on last week’s gains of 2.8 percent. The Nikkei 225 Stock Average climbed 1.1 percent to 19,024.59, rising above 19,000 for the first time in two months. The Standard & Poor’s 500 Index erased its loss for the year...