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Brent crude futures slipped US$5.52, or 6.28 per cent.
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Strategists say the coordinated intervention between Japan and the US increases the risk for anyone betting against the currency.
Morgan Stanley upgraded South Korean stocks to overweight, saying the recent “leverage washout” offers investors a better entry point into the artificial intelligence trade and industrial super-cycle…
The joint intervention is the first since 2011, when the two countries took coordinated action to weaken the yen in the aftermath of the earthquake in eastern Japan.
Oil fell after US President Donald Trump said new talks with Iran would begin on Monday after he called off a planned attack on the Islamic Republic.
The US Treasury has limited liquid resources to support further coordinated currency intervention alongside Japan, though its firepower could be expanded substantially if officials resort to more…
The Organization of Petroleum Exporting Countries and its allies (OPEC+) agreed on Sunday to boost oil production by 188,000 barrels a day (bpd) from September, against a backdrop of disruption caused…