Oil Extends Decline as U.S. Crude Supplies Seen Expanding Glut

Oil extended declines for a third day before U.S. government data forecast to show increasing crude stockpiles kept supplies at the highest level in more than eight decades. Futures slid as much as 1.2 percent in New York after falling 3 percent Monday. Inventories rose by 2.85 million barrels last week, according to a Bloomberg survey before an Energy Information Administration report Wednesday. Oil-producing countries are discussing...

Aussie Falls Second Day on Prospects RBA to Say Rally a Concern

Australia’s dollar weakened for a second day on speculation Governor Glenn Stevens will signal at a policy meeting that the currency’s recent advance is a concern. The Aussie dropped against 12 of its 16 major peers on Tuesday after surging 13 percent from a seven-year low set in January to a nine-month high last week. Commonwealth Bank of Australia, the nation’s largest lender, estimates the currency is now strong enough to...

Asian Stocks Decline as Oil Slides, Japan Shares Slump on Yen

Asian stocks dropped as energy producers fell with crude oil and Japanese exporters slipped as the yen traded near an 18-month high. The MSCI Asia Pacific Index fell 0.3 percent to 126.12 as of 9:02 a.m. in Tokyo. Japan’s Topix index lost 0.6 percent as the yen held below 111.50 per dollar following a two-day advance. The Federal Reserve’s commitment to a gradual approach to raising interest rates has steadied markets, with global equities...

Japan Stocks Fall as Yen Near 18-Month High Weighs on Exporters

Japan’s Topix index fell for the fifth time in six days as a stronger yen weighed on the earnings outlook for exporters, while cheaper oil dragged energy shares lower. The Topix declined 0.4 percent to 1,297.38 as of 9:01 a.m. in Tokyo as all but five of its 33 industry groups fell. The Nikkei 225 Stock Average lost 0.4 percent to 16,063.02, falling for a sixth day and headed for its lowest close since Feb. 29. The yen strengthened...

U.S. Stocks Rally Loses Momentum After Reaching Highs for Year

U.S. stocks slipped from their highest levels this year, with declines in consumer and industrial shares overshadowing gains in health-care companies, as investors looked for fresh reasons to continue a rally. The Standard & Poor’s 500 Index dropped 0.3 percent to 2,066.05 at 4 p.m. in New York, the biggest slide in more than a week while a measure of investor anxiety rose from the lowest level since August. The main U.S. equity...