Globally, Oil prices rose for a second day on Friday, set for their sixth week of gains, after Saudi Arabia and Russia, the world's second and third-largest crude producers, pledged to cut output through next month. Brent crude futures for October rose 30 cents, or 0.4%, to $85.44 a barrel, while U.S. West Texas Intermediate crude for September rose 36 cents, or 0.4%, to $81.90. The dollar hung back from a four-week high against major peers on Friday as investors looked ahead to a key jobs report that could influence the path for U.S. interest rates. Sterling traded slightly higher after recovering knee-jerk losses following the Bank of England's decision to downshift to a quarter point rate hike on Thursday.Asian shares rose on Friday.MSCI's broadest index of Asia-Pacific shares outside Japan was 0.46% higher after dropping 2.3% on Thursday. Japan's Nikkei was choppy and last up 0.1%.U.S. stocks closed little changed on Thursday after a choppy trading session, as investors weighed another rise in Treasury yields with the latest batch of economic data and earnings. The benchmark U.S. 10-year Treasury yield rose as high as 4.198% during the session, the highest since November.Gold prices rose slightly on Friday. The yellow metal slid from key levels this week as concerns over a hawkish Federal Reserve boosted the dollar.Spot gold rose 0.1% to $1,936.05 an ounce,Spot prices were down 1.2% for the week.The Indian rupee is expected to remain under pressure on Friday after longer maturity U.S. yields reached the highest level this year.
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