Asia shares swing higher, oil surges to 3-year peak

0
44
Published by
Reuters

By Wayne Cole SYDNEY (Reuters) – Asian shares crept higher on Monday as risk sentiment turned for the better, though a surge in oil prices to three-year highs could inflame inflation fears and aggravate the recent hawkish turn by some major central banks. Oil stormed past its July peaks as global output disruptions forced energy companies to pull large amounts of crude out of inventories, while a shortage of natural gas in Europe pushed costs up across the continent. [O/R] Brent added another 98 cents on Monday to $79.07 a barrel, while U.S. crude rose 97 cents to $74.95. “We forecast that thi…

Read More