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Oil futures fell 4% on Thursday, capping a volatile day of trading that saw the commodity swing by around $4 a barrel in either direction.
sweet crude for delivery in January CLF5, +0.39% fell $2.36, or 4.2%, to settle at $54.11 a barrel on the New York Mercantile Exchange.
Brent oil for February delivery LCOG5, +0.25% declined $1.91, or 3.1%, to finish at $59.27 a barrel on London’s ICE Futures exchange.
Gold prices on Thursday finished roughly flat and back under the $1,200 mark, as a lift from the Fed’s dovish signals faded.
Gold for February delivery GCG5, +0.18% edged up 30 cents, or less than 0.1%, to settle at $1,194.80 an ounce. March silver SIH5, -0.24% also was essentially unchanged, settling at $15.93 an ounce.
Asian markets rallied for a second straight session on Friday, boosted by another strong performance on Wall Street while renewed confidence helped push the dollar back towards the 100 yen mark Tokyo jumped 1.59 per cent thanks to the weaker yen, while Sydney climbed 1.66 per cent, Seoul rose 1.29 per cent and Hong Kong added 1.43 per cent. Shanghai eased 0.20 per cent.
Global markets tanked at the start of the week on fears about the global economy as oil prices plunged and crude exporter Russia was also hammered by Western sanctions over Ukraine.
However, they have rebounded over the past few days in response to a Federal Reserve statement Wednesday indicating interest rates would be hiked no sooner than mid-2015.
MALAYSIA share prices opened higher on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 6.54 points to 1706.47.
Volume was 81.61 million lots worth RM19.53 million.
Gainers outnumbered losers 221 to 27.
MALAYSIAN shares ended higher on Thursday with the Kuala Lumpur Composite Index adding 18.05 points to close at 1,699.95.
Some 1.91 billion lots, valued at RM1.93 billion were traded. Gainers numbered 761 while losers numbered 180.
