OIL PRICES RISE
Crude oil prices bounced back on Wednesday from steep falls in the previous session as strong Japanese economic growth surprised markets and the business outlook in Australia also seemed to brighten, stoking producer hopes of increased demand.
Japan's economy, the world's third largest, expanded at an annualised rate of 2.4 percent in the first three months of this year, more than a median market forecast for a 1.5 percent increase and following a revised 1.1 percent expansion in October-December, data from the Cabinet Office showed.
In Australia, an important commodity employer and exporter, consumer sentiment surged in May as people's outlook on the economy brightened following this month's interest rate cut and after the government unveiled a budget that included a surprise tax break for small businesses.
Brent futures were up 57 cents at $64.59 a barrel by 0215 GMT, and U.S. crude prices were also up 57 cents at $58.56 a barrel.
The price rises came after a session on Tuesday that saw oil slide over 3 percent on a dollar rally and concerns of a building glut, which Goldman Sachs said would lead to a return of 2015 lows.
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U.S. DT - The sum total in September of all net foreign acquisitions of long-term securities, short-term U.S. securities, and banking flows was a net TIC outflow of $29.1 billion. Of this, net foreign private inflows were $23.5 billion, and net foreign official outflows were $52.7 billion.
U.S. FRB - Industrial production edged up 0.1 percent in October, as a gain for manufacturing outweighed decreases elsewhere. As a result of upward revisions primarily in mining, the overall index is now reported to have advanced at an annual rate of 4.7 percent in the third quarter, appreciably above the gain of 3.3 percent reported initially.
WNN - "nuclear energy is a "mature, low greenhouse gas emission source of baseload generation that could make an increasing contribution to global development based on low-carbon energy supply".
ARAB NEWS - Saudi Arabia has shown investment interest in Pakistan’s largest coastal refinery, a multibillion-dollar project being set up at Khalifa Point, near Hub, Balochistan, officials have confirmed.