Oil Trades Near Three-Month High as U.S. Gasoline Supplies Fall

Oil traded near the highest level in three months as rising U.S. gasoline demand trimmed supplies of the fuel to the lowest since January. Futures were little changed in New York after gaining 4.9 percent Wednesday. Consumption of the fuel was at the highest level since September the past four weeks, reducing gasoline inventories for a third week, according to data from the Energy Information Administration. U.S. output was steady while...

Gold Holds Decline as Investors Await ECB Update on Stimulus

Gold held is drop as investors await a monetary policy review from the European Central Bank and holdings in exchange-traded product backed by bullion fell. Bullion for immediate delivery traded at $1,252.40 an ounce at 8:54 a.m. in Singapore after closing at $1,253.23 a day earlier, when prices lost 0.7 percent, according to Bloomberg generic pricing. Assets in exchange-traded funds shrank for the first time in 19 days, ending the...

Chinese Stocks Fall for Second Day After Inflation Data

China’s stocks fell for a second day after data showed inflation accelerated more-than-estimated and producer prices extended declines. The Shanghai Composite Index dropped 0.4 percent as of 9:32 a.m. local time. The benchmark gauge pared losses in the last half an hour of trading on Wednesday on speculation state-backed funds were repeating a recent pattern of intervening to prop up the market. The consumer-price index rose...

Asian Stocks Head for First Gain This Week on Stimulus Outlook

Asian stocks climbed for the first day this week amid speculation central banks will provide additional stimulus to bolster global economic growth. The MSCI Asia Pacific Index gained 0.4 percent to 125.51 as of 9:04 a.m. in Tokyo, halting three days of losses. U.S. shares rebounded with crude oil on Wednesday ahead of Thursday’s European Central Bank meeting that may provide more insight on the potential for further steps to loosen policy...

Japanese Stocks Rise Amid Weaker Yen Ahead of ECB Policy Meeting

Japanese stocks rose, with the Topix index jumping for the first time in four days, as a weaker yen boosted exporters while investors awaited a policy meeting by the European Central Bank. The Topix added 1.2 percent to 1,348.68 as of 9:03 a.m. in Tokyo, with all but one of the 33 industry groups rising. The gauge fell 3.1 percent over the previous three sessions, after rallying 15 percent in three weeks. The Nikkei 225 Stock Average...