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May, 27, 2016

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Business > Global Markets
Oil turned higher in Asia Wednesday, but the U.S. benchmark remained below US$44 a barrel as a pick-up in the U.S. dollar and rising Iranian crude production limited gains, while traders await the release of inventories later in the day.
 
The U.S. dollar rallied Wednesday after comments by two regional Fed officials stoked speculation the U.S. central bank could consider raising interest rates next month.
 
Oil prices rebounded in Asia Tuesday but nagging worries about excess supplies kept them below 2016 highs after data showed Iran and Iraq increasing output.
 
The U.S. dollar extended its losses against the yen and euro Tuesday as fresh data indicating a slowdown in the U.S. manufacturing sector lowered expectations the Federal Reserve will hike interest rates any time soon.
 
Australian entrepreneur Craig Wright on Monday identified himself as the creator of Bitcoin, following years of speculation about who invented the pioneering digital currency.
 
Oil prices dipped Monday after enjoying another strong rally last week, with news of a jump in Iraqi exports bringing supply glut fears back to the fore.
 
France braced Sunday for violence at May Day rallies where workers are fired up over labor reforms, while similar fears of eroding rights sent tens of thousands into the streets of South Korea.
 
Oil prices eased slightly in Asia Friday after hitting a series of new highs this week, bolstered by a weak U.S. dollar.
 
Oil prices dipped in Asia Thursday as traders took profits after crude costs hit a new high for the year in response to falling U.S. production.
 
The U.S. dollar fell on Wednesday as traders look to a Federal Reserve policy meeting for more clues about its timeline for raising interest rates.
 
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