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Oil prices fell on Wednesday after a report of an unexpected rise in U.S. fuel inventories.
U.S. West Texas Intermediate (WTI) crude futures were at $57.72 a barrel at 0130 GMT, 27 cents, or 0.5 percent below their last settlement.
Brent crude futures, the international benchmark for oil prices, were at $63.27 a barrel, down 34 cents, or 0.5 percent.
In stocks, Asian share markets were held back by caution over the latest missile test by North Korea and concerns at recent softness in Chinese shares.
MSCI's broadest index of Asia-Pacific shares outside Japan was up just a fraction, while China's blue chip index eased 0.5 percent.
In the Middle East, Egypt's stock market surged on Tuesday after the central bank removed caps on deposits and withdrawals of foreign currency for importers.
The blue-chip index registered its biggest daily jump since March as it rose 2.2 percent to a record closing high of 14,537 points, passing its previous peak in mid-November.
Shares in Arabian Cement rose 5.2 percent while real estate developer Talaat Mostafa Group gained 3.6 percent in its heaviest trade since May.
Meanwhile, the Saudi Arabia market edged up for a fifth straight day. The index rose 0.4 percent to 6,967 points, nearing technical resistance around 7,000 points, which has capped the market since mid-October.
Dubai's index fell 0.5 percent as Emaar Properties and GFH Financial both lost 1.2 percent. But builder Drake & Scull rose 2.8 percent in active trade. It announced on Monday that its shares had been included in the MSCI GCC index.
In Abu Dhabi, the index edged up 0.5 percent, helped by First Abu Dhabi Bank's 1 percent advance. But Manazel Real Estate, the most heavily traded stock, fell back 3.6 percent, having risen earlier this week when it announced plans to expand into the Middle East and North Africa.
In currencies, the dollar held firm on Wednesday after Wall Street shot to record peaks amid signs of progress on U.S. tax cuts.The dollar edged up to 111.57 yen and away from a 10-week low of 110.85, while the euro backed off to $1.1844.
Gold prices edged higher on Wednesday.
In other news, annual Japanese retail sales fell for the first time in a year last month, government data showed on Wednesday, as poor weather including two typhoons kept consumers away from stores and restaurants.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here
© ZAWYA 2017
U.S. West Texas Intermediate (WTI) crude futures were at $57.72 a barrel at 0130 GMT, 27 cents, or 0.5 percent below their last settlement.
Brent crude futures, the international benchmark for oil prices, were at $63.27 a barrel, down 34 cents, or 0.5 percent.
In stocks, Asian share markets were held back by caution over the latest missile test by North Korea and concerns at recent softness in Chinese shares.
MSCI's broadest index of Asia-Pacific shares outside Japan was up just a fraction, while China's blue chip index eased 0.5 percent.
In the Middle East, Egypt's stock market surged on Tuesday after the central bank removed caps on deposits and withdrawals of foreign currency for importers.
The blue-chip index registered its biggest daily jump since March as it rose 2.2 percent to a record closing high of 14,537 points, passing its previous peak in mid-November.
Shares in Arabian Cement rose 5.2 percent while real estate developer Talaat Mostafa Group gained 3.6 percent in its heaviest trade since May.
Meanwhile, the Saudi Arabia market edged up for a fifth straight day. The index rose 0.4 percent to 6,967 points, nearing technical resistance around 7,000 points, which has capped the market since mid-October.
Dubai's index fell 0.5 percent as Emaar Properties and GFH Financial both lost 1.2 percent. But builder Drake & Scull rose 2.8 percent in active trade. It announced on Monday that its shares had been included in the MSCI GCC index.
In Abu Dhabi, the index edged up 0.5 percent, helped by First Abu Dhabi Bank's 1 percent advance. But Manazel Real Estate, the most heavily traded stock, fell back 3.6 percent, having risen earlier this week when it announced plans to expand into the Middle East and North Africa.
In currencies, the dollar held firm on Wednesday after Wall Street shot to record peaks amid signs of progress on U.S. tax cuts.The dollar edged up to 111.57 yen and away from a 10-week low of 110.85, while the euro backed off to $1.1844.
Gold prices edged higher on Wednesday.
In other news, annual Japanese retail sales fell for the first time in a year last month, government data showed on Wednesday, as poor weather including two typhoons kept consumers away from stores and restaurants.
For access to market moving insight, subscribe to the Trading Middle East newsletter by clicking here
© ZAWYA 2017
