Asian shares retreated on Friday as hawkish comments from some Federal Reserve officials and escalating geopolitical tensions put a dent in risk sentiment, while traders were also cautious ahead of U.S. jobs data due later in the day. The threat of supply disruptions owing to a prolonged conflict in the Middle East kept Brent futures above $90 a barrel.
Oil prices remained largely unchanged as OPEC stuck to its demand growth forecasts and geopolitical tensions persisted. Brent futures and WTI crude registered marginal gains. China’s weakening demand countered the optimism. Ongoing conflicts in the Middle East heightened uncertainties. Traders took the attacks on energy facilities in Yemen and Russia in their stride. Concerns were eased by expectations of the delays not impacting oil prices in the long term.
