Oil prices added to their gains early on Thursday, on the back of comments by Saudi Energy Minister Khalid al-Falih on Wednesday that the kingdom would rather see an undersupplied market than end a deal on cutting output.

U.S. West Texas Intermediate (WTI) crude futures were at $61.02 a barrel at 0147 GMT, up 42 cents, or 0.7 percent from their last settlement, adding to a 2.4 percent gain in the previous session.

Brent crude futures were at $64.64 per barrel, up 28 cents, or 0.4 percent, extending Wednesday’s 2.6 percent rise.

In stocks, Asian shares rose on Thursday taking their cues from an overnight jump on Wall Street.

A stronger-than-expected rise in U.S. consumer prices in January pointed that the Federal Reserve might be on track to raise interest rates four times this year.

Wall Street surged on Wednesday, with the Dow up 1 percent and the S&P 500 climbing 1.34 percent, as investors ignored strong U.S. inflation data.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1 percent.

In the Middle East, stock markets were mixed on Wednesday.

Kuwait’s stock market added 1.6 percent, as rises in second-tier speculative stocks boosted the market. Real Estate Asset Management Co surged 20 percent, and Human Soft, added 9.8 percent

Saudi Arabia’s index edged up 0.1 percent after Mobily lost 7.1 percent as the company reported in line with estimates that its fourth-quarter net loss more than doubled from a year earlier to 181.7 million riyals ($48.45 million) on declining customer numbers.

Dubai’s index fell 0.2 percent in low traded volumes. GFH Financial slipped 2.2 percent after reporting annual net profit roughly halved and that its board cut the proposed annual cash dividend to 8.7 percent from 10 percent for 2016.

Neighbouring Abu Dhabi dropped 0.3 percent.

Qatar's stock market rose 0.8 percent as Ezdan Holding added 3.9 percent.

Egypt’s index rose 0.5 percent, Bahrain’s index fell 0.8 percent and Oman’s index edged up 0.04 percent.

In currencies, the dollar stretched overnight losses against the Japanese yen to reach its weakest level since November 2016 on Thursday.

The dollar reached 106.42 yen, but later regained some ground and was last down 0.3 percent at 106.67 yen.

The dollar index against a basket of six currencies slipped 0.25 percent.

Gold prices held steady on Thursday supported by a weaker dollar. Spot gold edged up 0.1 percent to $1,351.96 an ounce, as of 0202 GMT.

In other news, Egypt's tax revenues rose by 61 percent year-on-year in the first half of the 2017/18 fiscal year that began in July, Finance Ministry Deputy Mohamed Moeet said on Wednesday.

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