Stocks rallied and bonds retreated in Asia on Monday as the United States and China agreed to restart trade talks, leading investors to pare wagers on aggressive policy easing by the major central banks.
OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude amid a weakening global economy.
Oil prices rose more than $1 a barrel on Monday, with OPEC and its allies on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week.
Stocks rallied and bonds retreated on Monday as the United States and China agreed to restart trade talks, leading investors to pare wagers on aggressive policy easing by the major central banks.
Oil prices rose over $2 a barrel on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week.
U.S. President Donald Trump's decision to allow U.S. firms to sell "high tech" products to Huawei led Asian investors to snap up shares in suppliers to the Chinese smartphone maker on Monday, even as some experts wondered what had changed.
Oil prices were up on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week.
Factory activity shrank across much of Europe and Asia in June as the simmering U.S.-China trade conflict put further strains on the manufacturing sector, keeping policymakers under pressure to deploy stronger steps to avert a global recession.
Italian infrastructure group Atlantia accused ruling 5-Star officials on Monday of selectively leaking a government report in a campaign to revoke the group's national toll-road concession.
Stocks rallied and bonds retreated on Monday as the United States and China agreed to restart trade talks, leading investors to cut back wagers on aggressive policy easing by the major central banks.
Russian Energy Minister Alexander Novak said on Monday that all OPEC and non-OPEC countries favored extending their global oil output deal by nine months under the same terms agreed in December.
Russian oil production rose to 11.15 million barrels per day (bpd) in June from 11.11 million bpd in May, two industry sources told Reuters on Monday, although it was still within output levels agreed in a global supply deal with OPEC.
Iraq's oil minister said on Monday that his government and the rest of OPEC seek to control global oil inventories and restore balance to the oil market which faces "huge challenges", according to a ministry statement.
Kazakh Energy Minister Kanat Bozumbaev said on Monday that most ministers representing OPEC and non-OPEC countries at talks in Vienna favor extending their global oil output deal by nine months.