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Channel NewsAsia
Channel NewsAsia
AsiaPac · 2 hrs ago
Shares edge higher in Asia as oil dips, earnings loom
SYDNEY, July 6 : Asian share markets were mostly firmer on Monday, as Wall Street futures started the week with gains on hopes for an upbeat earnings season, while easing oil prices promised relief from inflationary pressures.While there were no new developments in the fractious U.S.-Iran peace talks, ships are passing through the Strait of Hormuz with 160 vessels reported from Monday to Saturday last week.OPEC+ also agreed a further increase in output targets by 188,000 barrels per day from August, on top of similar increases for June and July. As a result, Brent slipped 0.6 per cent to near four-month lows at $71.70 a barrel and U.S. crude lost 0.5 per cent to $68.38. The cooling in energy costs combined with a softer U.S. payrolls report, led markets to scale back the risk of a Federal
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