Asian stocks mostly gain and oil rises after the UAE says it will exit OPEC [Yahoo! Finance Canada]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
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Source: Yahoo! Finance Canada
will end and after the United Arab Emirates said it would leave OPEC in a blow to the powerful oil cartel. U.S. futures edged higher. Markets in Japan were closed for a holiday. Elsewhere in Asia, South Korea's Kospi rose 0.8% to 6,690.90 and the Hang Seng in Hong Kong gained 1.5% to 26,050.90. The Shanghai Composite index traded 0.7% higher at 4,107.51. Australia's S&P/ASX 200 slipped 0.3%, to 8,687.00. Taiwan's Taiex lost 0.6%, and India's Sensex gained 1.4%. The price of a barrel of Brent crude oil to be delivered in June rose 1.1% to $112.47 early Wednesday. Brent to be delivered in July was also up 1.1% to $105.50. Brent oil was around $70 per barrel before the war began in late February. Benchmark U.S. crude gained 1% to $100.94 a barrel. The UAE's departure from OPEC, due to happen on Friday, has been closely watched by oil markets. OPEC accounts for roughly 40% of global oil output, and the UAE is one of OPEC's largest oil producers. It has in recent years, wan
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