- Scientists unlock secret of 'Girl With Pearl Earring'
- Dolphins flash friendly grins when they're ready to play
- Facing backlash, EU moves to delay deforestation rules
- US private sector adds more jobs than expected in September: ADP
- Boys out of critical condition after Zurich stabbings
- Spain logs record summer tourism as inflow draws protests
- Hedi Slimane quits as Celine's artistic director
- Oil prices extend rally on Iran attack
- Spain welcomed record number of tourists this summer
- France says coming tax hikes on the wealthy to be 'temporary'
- Why are Thailand's roads so deadly?
- Oracle to invest $6.5 bn in Malaysian cloud services region
- Parkrun marks 20 years of a free weekly jog, run... or walk
- Oil extends rally after Iran attack, Hong Kong soars again
- Prostitutes, prospectors drive spread in DR Congo mpox capital
- Oil extends rally after Iran attack, Hong Kong resumes surge
- Extreme heat another form of death sentence in Texas jails
- Can music help plants grow? Study suggests sound boosts fungus
- Nike earnings drop, says turnaround will take time
- US dockworkers launch mass strike a month before election
- Iron Dome: Israel's key anti-missile shield
- Cranes stand still as US dockworkers fight for 'future'
- GM reports US sales dip, but says EVs grew
- Sheinbaum takes office as Mexico's first woman president
- Webb telescope detects carbon dioxide on Pluto's largest moon
- Stock markets slump, oil jumps on Middle East concerns
- French PM vows more taxes and spending cuts ahead of budget fight
- Germany inaugurates IBM's first European quantum data centre
- Stock markets diverge as eurozone inflation drops further
- France's richest man takes control of Paris Match magazine
- Anger meets tear gas as Nigeria hardship protests fizzle out
- US dockworkers launch mass strike month before election
- Evacuations from Lebanon: what we know
- Feathers fly at Chanel's Paris fashion return
- UAE oil giant ADNOC swoops on German chemicals firm Covestro
- Eurozone inflation falls under 2% for first time since 2021
- Coldplay ticket scalping fiasco sparks backlash in India
- Droughts drive Spanish boom in pistachio farming
- Tokyo recovers some losses to lead Asian markets higher
- Rural schools empty in North Macedonia due to exodus
- US dockworkers launch strike after labor contract expires
- Thousands evacuated as Super Typhoon Krathon approaches Taiwan
- Kenya airport whistleblower fears for his life
- Sheinbaum to take office as Mexico's first woman president
- Scientists fear underfunded Argentina research on verge of collapse
- US port officials gird for strike despite last-minute bargaining
- With 118 dead from Hurricane Helene, Biden defends US government response
- Breeder who tried to create enormous trophy sheep jailed in US
- Qatar Airways seeking 25% stake in Virgin Australia
- US port officials gird for strike as labor talks stay stuck
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Oil price rises even as OPEC boosts output more than expected
Oil prices rose Thursday despite an agreement by major crude producers to boost output more than expected, while US stocks rallied ahead of closely-watched employment data seen as a key input to the inflation debate.
In Vienna, the OPEC+ group decided to add 648,000 barrels per day to the market in July, up from the 432,000 bpd increases in recent months, and a shift from the cartel's recent stance of sticking to a planned pace of monthly production hikes.
"The meeting highlighted the importance of stable and balanced markets for both crude oil and refined products," the group said of the move.
The announcement came after European Union leaders agreed to ban more than two-thirds of Russian oil imports as part of a sixth package of sanctions on Moscow over the Ukraine war.
But the action by producers did not appear to be enough to calm oil markets, with futures contracts rising more than one percent.
The jump in prices reflects "doubts the cartel members can deliver on their promises," TD Securities' Bart Melek said in a note.
He who warned that oil prices could spike "well above" $120 a barrel in the peak summer period amid tight inventories, geopolitical risk and uncertainty over OPEC.
Meanwhile, Wall Street stocks pushed higher after two down sessions in which worries over inflation stymied buying.
Payroll services firm ADP said private US employment rose by 128,000 positions last month, far less than economists expected and well below April's total.
While the ADP data is not necessarily a harbinger of Friday's government jobs data, some market watchers think a Labor Department report showing weakening hiring and less wage pressure might be welcomed by investors.
"Some traders expect to see cooler labor demand, which could slightly ease some inflation worries," Oanda's Edward Moya said.
European shares also closed higher, with Paris leading the way at 1.3 percent and Frankfurt rising 1.0 percent. London's FTSE 100 was shut for a holiday.
Equities fell in Asia as traders grow increasingly worried that central bank moves to rein in inflation could tip economies into recession.
Hong Kong shed one percent, while Tokyo, Sydney, Seoul, Singapore, Wellington, Manila, Jakarta and Taipei were well down. Shanghai and Mumbai edged up.
Large tech companies had a banner session on Wall Street, with Amazon and Google-parent Alphabet each winning 3.2 percent, while Netflix jumped 6.3 percent.
Dow-member Microsoft fell short of those levels but still gained 0.8 percent, despite lowering its profit and sales outlook due to the hit from the strong dollar.
Boeing was another standout, jumping 7.5 percent after the head of Delta Air Lines said the carrier was hoping for a deal to buy planes from the aviation giant.
- Key figures at around 2040 GMT -
Brent North Sea crude: UP 1.1 percent at $117.61 per barrel
West Texas Intermediate: UP 1.4 percent at $116.87 per barrel
New York - Dow: UP 1.3 percent at 33,248.28 (close)
New York - S&P 500: UP 1.8 percent at 4,176.82 (close)
New York - Nasdaq: UP 2.7 percent at 12,316.90 (close)
Frankfurt - DAX: UP 1.0 percent at 14,485.17 (close)
Paris - CAC 40: UP 1.3 percent at 6,500.44 (close)
London - FTSE 100: Closed for a holiday
EURO STOXX 50: UP 1.0 percent at 3,795.13 (close)
Tokyo - Nikkei 225: DOWN 0.2 percent at 21,413.88 (close)
Hong Kong - Hang Seng Index: DOWN 1.0 percent at 21,082.13 (close)
Shanghai - Composite: UP 0.4 percent at 3,195.46 (close)
Euro/dollar: UP at $1.0753 from $1.0650 on Wednesday
Pound/dollar: UP at $1.2568 from $1.2487
Euro/pound: UP at 85.49 pence from 85.28 pence
Dollar/yen: DOWN at 129.85 yen from 130.13 yen
burs-jmb/hs
Ng.A.Adebayo--CPN