Oil was down in Asian trade Thursday as caution returned to the market following weak U.S. production data, analysts said.

The U.S. dollar was little changed against the yen in Asia on Thursday after investors adjusted positions on the greenback's recent surge, while the euro was weak on gloomy European growth data.

U.S. brokerage Morgan Stanley has trimmed its forecast for global notebook computer shipment growth in the current quarter after April figures fell short of expectations.

Weak economic data across the eurozone pushed European stocks lower Wednesday, as news hit that the 17-country currency bloc is now in its longest-ever recession.

The dollar held firm versus the yen in Asian trade Wednesday, clinging to recent gains after upbeat U.S. data with analysts saying the greenback could climb higher.

The price of oil fell below US$94 on Wednesday after Germany, Europe's largest economy, reported anemic growth for the first quarter.

Major U.S. retailers, including Gap Inc., declined to endorse an accord on Bangladesh building and fire safety backed by Europe's two biggest fashion chains, a trans-Atlantic divide that may dilute garment industry reform efforts.

Roberto Azevedo of Brazil on Tuesday vowed to revive the deadlocked World Trade Organization (WTO), as he was confirmed formally as the incoming leader of the 159-nation body which sets the rules for global commerce.

Financial markets remained subdued Tuesday as investors assessed whether the recent optimism that has seen many stock indexes hit historic highs will last.

Booming oil production in North America driven by the shale energy revolution has created a global “supply shock” that is reshaping the industry, the International Energy Agency (IEA) said on Tuesday.