Oil prices hit 11-month highs and were on track for a weekly gain on Friday, supported by Saudi Arabia’s pledge to cut output and a global stocks rally as investors looked beyond rising coronavirus cases. Brent crude climbed 83 cents, or 1.5%, to $55.21 a barrel by 1202 GMT, the highest since late February, and .
Asian markets soar at record highs on global recovery hopes
08 Jan 2021 People walk past an electronic stock board showing Japan’s Nikkei 225 index at a securities firm in Tokyo on Friday. Associated Press Asian shares vaulted to record highs on Friday and Japan’s Nikkei hit a three-decade peak as investors looked beyond rising coronavirus cases and political unrest in the United States to focus on hopes for an economic recovery later in the year.
European share markets were set to follow Asia higher, with pan-region Euro Stoxx 50 futures up 0.77%, German DAX futures up 0.83% and FTSE futures up 0.46%.
US S&P 500 e-mini stock futures also pointed to a cheery open on Friday, rising 0.51% to 3,815.
Oil prices hit their highest level in nearly a year on Friday, gaining 8% on the week, supported by Saudi Arabia's pledge to cut output and strong gains in major equity markets.
Oil prices hit their highest level in nearly a year on Friday, gaining 8% on the week, supported by Saudi Arabia's pledge to cut output and strong gains in major equity markets.
Oil prices hit their highest level in nearly a year on Friday, gaining 8% on the week, supported by Saudi Arabia's pledge to cut output and strong gains in major equity markets.