Asia markets mixed in early trade as traders await Fed, BOJ decisions – CNBC
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Oil prices advanced during Asian hours, after dropping overnight following data showing another build up in U.S. crude inventories.
According to Reuters, market intelligence firm Genscape reported that U.S. crude stockpiles at the Cushing, Oklahoma delivery point rose by over 1.5 million barrels in the week to April 22.
Elsewhere, Bloomberg News reported Saudi Arabia would complete the expansion of the Shaybah oilfield by the end of May. Citing sources with knowledge of the plan, Bloomberg News said this would increase Shaybah’s output capacity from 750,000 barrels a day to 1 million barrels.
Ray Attrill, global co-head of foreign exchange strategy at the National Australia Bank, said of oil, “Given the news flow, the surprise perhaps is that the falls haven’t been bigger.”
Asia markets mixed in early trade as traders await Fed, BOJ decisions – CNBC}