Globally, Oil prices edged higher on Wednesday, hovering at a new 10-month high hit the previous day, as expectations of tighter global supply and fears of supply disruption in Libya outweighed concerns of slower demand in some countries such as China. The international benchmark Brent futures rose 8 cents, or 0.1%, to $92.14 a barrel , while U.S. West Texas Intermediate (WTI) crude climbed 14 cents, or 0.2%, to $88.98 a barrel.Asian shares were subdued after Wall Street wobbled overnight with markets bracing for key U.S. inflation data on Wednesday, while an oil price spike stoked anxiety about persistent price pressures, complicating the interest rate outlook. The euro edged higher and markets moved to favour a hike from Europe's central bank on Thursday, following a Reuters report that the European Central Bank (ECB) expects inflation will stay above 3% next year in its updated forecasts, well above its target of 2%.Wall Street stocks ended lower on Tuesday.Treasury yields climbed higher on Wednesday, with the two-year note touching 5.0264%, compared with a U.S. close of 5.005%. Ten-year yields held at 4.2881%, up from the close of 4.264%. The gold price was flat at $1,912.85 per ounce. Indian Rupee will likely open flat on Wednesday.
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