"Markets were rattled overnight as crude initially stumbled further, its weekly decline close to 10 percent at one point, but comments from Saudi Arabia's OPEC governor Adeeb Al-Aama helped put a floor under oil prices. Overnight, MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.57 percent lower.CRUDE REBOUNDBoth Brent and U.S. crude fell almost 4 percent overnight on mounting concerns about oversupply. ""But if you add a slowdown in China," she said, "it becomes a demand story.U.S. crude rose 2.09 percent to $46.47 per barrel and Brent was last at $49.45, up 2.21 percent on the day.Copper rose 0.76 percent to $5,584.85 a tonne.Spot gold percent to $1,227.59 an ounce. U.S. gold futures fell 0.02 percent to $1,228.40 an ounce.The U.S. dollar hit its lowest in roughly six months against the euro at $1.0994, down 0.01 percent.

Source: The Star May 05, 2017 22:57 UTC