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Asia shares pare gains; Treasury yields, oil off highs

SINGAPORE: Asian shares lost some of their recent gains on Friday, after lackluster sessions on Wall Street and Europe, while 10-year US Treasury yields and crude futures pulled back from multi-month highs hit overnight. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dropped 0.6 per cent, but remained on track to end the week up 0.6 per cent. Japan's Nikkei .N225, which jumped to an 11-month high on Thursday, slipped 0.6 per cent on Friday. It is set for a weekly gain of 0.1 per cent. South…

Oil prices climb on expectation of OPEC-led output cut

SINGAPORE: Oil prices rose around one per cent on Monday as producer cartel OPEC moved closer to an output cut to rein oversupply that has kept prices low for over two years. International Brent crude oil futures LCOc1 were trading at $47.35 per barrel at 0023 GMT (7.23 p.m. ET), up 49 cents, or 1.05 per cent, from their last settlement. US West Texas Intermediate (WTI) crude CLc1 was up 0.98 per cent, or 44 cents, at $46.14 a barrel. Traders said that markets were being supported by advancing plans by the…

Oil falls as Iran, Libya output rises hit OPEC deal momentum

LONDON: Oil prices fell nearly one percent on Tuesday on news that Iran and Libya have continued to increase production, overshadowing an OPEC agreement struck last week to freeze output levels in a bid to stem a two-year price rout. Benchmark Brent crude oil futures were trading down 40 cents, or 0.8 percent, at $50.49 a barrel at 0826 GMT. U.S. West Texas Intermediate (WTI) crude was down 42 cents, or 0.9 percent, at $48.39 a barrel. "Today's losses should come as no surprise as Libyan production is climbing higher and…