Globally, Oil prices rose for a fourth session on Thursday, with Brent at a three-week high, after OPEC+ agreed to further tighten global crude supply with a deal to slash production by about 2 million barrel per day, the largest reduction since 2020.A draw in U.S. oil stockpiles last week also supported prices. Crude inventories dropped by 1.4 million barrels in the week ended Sept. 30 to 429.2 million barrels.Asian shares were cautiously higher on Thursday, while the dollar eased ahead of U.S. non-farm payrolls data.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% in early Asia trade, as U.S. futures gained. The index is up 4% this week after failing 13% in September.Wall Street stocks closed lower on Wednesday, unable to sustain a late-day surge, after data showing strong U.S. labor demand again suggested the Federal Reserve will keep interest rates higher for longer.San Francisco Fed President Mary Daly told Bloomberg TV in an interview that inflation is problematic and that the U.S. central bank would stay the course.Treasury yields shot up again on Wednesday after the softer economic data failed to bolster budding hopes the Fed might pivot to a less hawkish policy stance.Gold prices were muted on Thursday, pausing a recent rally after hawkish comments from Federal Reserve officials.Spot gold rose 0.1% to $1,718.40 an ounce. Rupee found support at lower levels as dollar index eased off and a sharp rally in the equity market helped the domestic currency, however higher oil prices may keep the pressure on currency.
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