Oil prices edged up on Monday, with Brent drifting near $70 a barrel, propped up by output cuts from major producers and optimism about global economic and fuel demand recovery in the second half of the year.
Global stock prices were off to a solid start while U.S. bond yields hovered near a 13-month peak on Monday as investors bet U.S. economic growth will accelerate after the passing of a massive stimulus package.
Gold was down on Friday morning in Asia but was poised to end the best week in seven as falling U.S. Treasury yields and the dollar gave the yellow metal a boost.
The safe-haven dollar languished near a one-week low on Friday as calming bond markets lifted investor sentiment and appetite for Asian currencies.
Brent crude prices eased on Friday but hovered near $70 a barrel as production cuts by major oil producers constrained supply, with optimism about a recovery in demand for the resource in the second half of the year also lending support.
sian shares pushed higher on Friday after U.S. President Joe Biden signed a $1.9 trillion stimulus bill into law, and as a retreat in bond yields overnight eased global concerns about rising inflation.