Oil Rises as Opec+ Holds Output Steady; Asian Markets Mixed
Oil prices moved higher after the Saudi-led Opec+ alliance agreed to maintain current production levels through the first quarter of 2026, as the group continues to grapple with signs of a persistent global supply glut.
West Texas Intermediate gained 1.5% to approach $60 a barrel, while Brent crude rose by a similar margin to trade above $63.
Asian equities delivered a mixed start to the week. Tokyo’s Nikkei slipped nearly 2% following disappointing factory-activity data, while Hong Kong’s Hang Seng advanced 0.8% to 26,068.05. The Shanghai Composite added 0.4% to 3,904.90.
Elsewhere, South Korea’s Kospi was broadly flat at 3,926.20, and Australia’s S&P/ASX 200 dipped 0.3% to 8,583.30.
US stock futures were subdued on Sunday. S&P 500 and Nasdaq futures were little changed, while Dow Jones Industrial Average futures edged lower by around 18 points.
The cautious tone comes as investors brace for potential leadership changes at the Federal Reserve, after Donald Trump confirmed he has selected his preferred candidate for the next Fed chair, with a formal announcement expected soon.
