Crude oil fell,
extending declines below $40 a barrel as the dollar reasserted itself
following last week’s selloff and data showed the first increase this
year in the U.S. rig count. Most Asian stocks climbed with markets in
Japan closed for a holiday.
West Texas
Intermediate oil neared $39, extending losses from Friday that knocked
the Bloomberg Commodity Index from a three-month high. The New Zealand
dollar weakened with the Canadian and South African currencies, while
the Korean won snapped a two-day advance after the greenback halted a
slump on Friday that was sparked by the Federal Reserve paring its
interest-rate outlook for 2016. Shares from Australia to South Korea
climbed with index futures in Hong Kong and China signaling further
gains. Gold held losses.
WTI futures fell 1
percent to $39.06 a barrel as of 9:12 a.m. Tokyo time, after sliding 1.9
percent on Friday to trim its fifth straight weekly advance to 2.4
percent. Brent crude lost 0.2 percent to $41.11 after falling 0.8
percent at the end of last week.
Source : Bloomberg
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