A huge overhang in oil stocks lingering across the world will keep a cap on any further oil price rises, the IEA said Tuesday, even as supply and demand move toward balance by the end of the year.
The pound was at two month lows on Tuesday as worries over the UK voting to leave the European Union bolstered demand for safe-haven units, including the yen.
Oil prices fell around 1 percent in Asia Tuesday, extending a sell-off on speculation about a pick-up in production while world markets are rattled by fears over the UK's possible exit from the European Union.
The pound dropped to a two-month low and the yen rallied Monday as jittery investors shifted into safer assets on worries about Britain's possible exit from the European Union.
Oil prices slipped again Monday, extending last week's losses and mirroring a sell-off across Asian markets fuelled by worries about the global economy, Britain's future in the EU and producers bringing more rigs back online.
World stock markets slipped Friday as investors shied away from risky assets before the release of Chinese economic data and a Fed policy meeting, and as fears loomed that Britain could vote to leave the European Union.
Crude prices dipped further in Asia on Friday on a stronger dollar, dampening a rally that saw the commodity hit 11-month highs earlier in the week.
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Global shares were mostly lower Thursday despite gains on Wall Street as a weaker U.S. dollar negatively impacted Japanese stocks and investors weighed risks given the Federal Reserve's cautious stance about tightening rates.
New Zealand's currency surged to a year high Thursday after the central bank left rates unchanged, while the U.S. dollar remained under pressure on fading hopes for a summer U.S. rate hike.