By Kevin Buckland TOKYO (Reuters) -Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports of a sharp escalation in Middle East hostilities. MSCI's broadest index of Asia-Pacific shares dived 2.
The US reimposed sanctions on oil and gas from Venezuela yesterday after finding President Nicolás Maduro’s revolutionary socialist government had “fallen short” of its commitments to hold a free and fair presidential election.
Oil prices slipped more than $1 on Wednesday as U.S. commercial inventories rose, while weaker economic data from China and dimmed prospects of interest rate cuts stoked worries about global demand. Brent futures for June were down $1.
Oil prices rallied and equities sank Friday as reports said explosions had been heard in Iran and Syria, fuelling fears of an escalation of the Middle East crisis after last
Oil prices slipped for a third straight session on Wednesday as likely higher U.S. commercial inventories weighed, while weaker economic data from China and dimmed prospects of interest rate cuts stoked worries about global demand.
Oil prices surged more than three percent in early Asian trade on Friday following unconfirmed reports of explosions in Iran, Syria and Iraq, sparking fears of an escalation of the Middle East crisis.
Oil prices extended losses on Wednesday as worries about global demand due to weak economic momentum in China and a likely rise in U.S. commercial stockpiles outweighed supply fears from heightened tensions in the Middle East.