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- 'We will win!': Mozambique's ruling party confident at final vote rally
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Florida braces for Milton, FEMA head slams 'dangerous' Helene misinformation
- Postecoglou slams 'unacceptable' Spurs after 'terrible' loss at Brighton
- Marmoush double denies Bayern outright Bundesliga top spot
- Rallies worldwide call for Gaza, Lebanon ceasefire
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- Man Utd stalemate keeps Ten Hag in danger, Spurs rocked by Brighton
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Vikings hold off Jets in London to stay unbeaten
- Ahead of attack anniversary, Netanyahu says: 'We will win'
- West Indies cruise to T20 World Cup win over Scotland
- Man Utd fire another blank in Aston Villa stalemate
- Lewandowski treble powers Liga leaders Barca to Alaves victory
- Russian activist killed on front line in Ukraine
- Openda strike briefly sends Leipzig top of Bundesliga
- Goal-shy Man Utd have to 'step up', says Ten Hag
- India bowl out Bangladesh for 127 in T20 opener
- Madueke rescues Chelsea in draw with 10-man Forest
- Beckett's belief rewarded as Bluestocking storms to Arc glory
- Trump on the stump, Harris hits airwaves in razor-edge US election
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- Kaur leads India to victory over Pakistan in Women's T20 World Cup
- Juventus held by Cagliari after late penalty drama
- In France's Marseille, teen 'stabbed 50 times' then burned alive
- Ruthless Gauff beats Muchova in straight sets to win China Open
- India restrict Pakistan to 105-8 in Women's T20 World Cup
- England target repeat of Pakistan Test whitewash
- Penrith Panthers win fourth straight NRL title after downing Storm
- Weary Sinner happy for day off after battling into Shanghai last 16
- Pakistan's Masood warns England still a force without Stokes
- Madrid's Carvajal to miss several months after serious knee injury
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- Tunisia votes with Saied set for re-election
- Bagnaia sets 'example' with Japan MotoGP win to cut gap on Martin
- Intense Israeli bombing rocks Beirut ahead of war anniversary
- Mozambique vote: no suspense but some disillusion
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- Five of the best: Pakistan-England Test thrillers
- Man sets arm on fire as marches across US mark Gaza war anniversary
- Vietnam's young coffee entrepreneurs brew up a revolution
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Oil price rises as OPEC backs higher output
Oil prices rose Thursday even as major crude producers agreed to boost output by more than the usual amount following an EU ban on Russian imports.
European shares rose in mid afternoon trading, with Frankfurt edging 0.6 percent higher and Paris up by more than one percent. London's FTSE 100 was shut for a holiday.
Wall Street stocks were little changed early Thursday following mixed labour data and a Microsoft earnings warning.
All eyes were on Vienna where the OPEC+ group of major oil producers, led by Saudi Arabia and Russia, agreed to boost oil output more than expected in light of the Russian invasion of Ukraine.
Producers had been expected to stick to their policy of only increasing output modestly, as they have done since May 2021.
But, amid soaring prices and hard on the heels of the EU ban on most Russian oil imports, pressure has been rising for the 23-member cartel to boost output to stabilise prices.
In the end, the group agreed to add 648,000 barrels per day to the market in July, up from 432,000 in previous months.
The move did not appear to be enough to calm oil markets, with the benchmark Brent crude up 0.4 percent at $116.79 per barrel and West Texas Intermediate also 0.5 percent higher at $115.80.
Soaring energy prices have fuelled growing inflation around the world, hampering economic growth and prompting central banks to hike rates.
Earlier in the day, oil prices had fallen more than two percent after a Financial Times report said that Saudi Arabia was considering a plan to boost output as Russia struggles to meet targets owing to Ukraine war-linked sanctions.
The FT report followed a Wall Street Journal article saying OPEC was considering removing Russia from an agreement that has locked producers into limited output increases, which analysts said could lead to an early end of the pact and allow nations to open the taps more.
Concerns about tighter Russian supplies have sent crude soaring this year, just as demand picks up owing to the reopening of economies but Riyadh has ignored previous calls to pump more.
"One can expect trading activity involving oil to remain volatile," Patrick J. O'Hare of Briefing.com said.
- 'Brace yourself' -
Asia was mostly in negative territory. Hong Kong shed one percent, while Tokyo, Sydney, Seoul, Singapore, Wellington, Manila, Jakarta and Taipei were also well down. Shanghai and Mumbai edged up.
Concern over the outlook was shared by Wall Street titan Jamie Dimon, who warned that the wave of unprecedented crises were combining to cause an economic superstorm.
"That hurricane is right out there down the road coming our way," the JPMorgan Chase & Co boss said. "We don't know if it's a minor one or Superstorm Sandy. You better brace yourself."
However, in sign of the huge uncertainty coursing through markets, a top strategist at the bank, Marko Kolanovic, painted a more positive picture, forecasting a market recovery through 2022.
"We remain positive on risky assets due to near record-low positioning, bearish sentiment, and our view that there will be no recession given support from US consumers, global post-Covid reopening, and China stimulus and recovery," he wrote in a note.
- Key figures at around 1345 GMT -
Frankfurt - DAX: UP 0.6 percent at 14,428.94
Paris - CAC 40: UP 1.1 percent at 6,486.85
EURO STOXX 50: UP 0.7 percent at 3,787.26
London - FTSE 100: Closed for a holiday
New York - Dow: DOWN 0.2 percent at 32,746.36
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 $1.0703 from $1.0658 on Wednesday
Pound/dollar: UP at $1.2536 from $1.2492
Euro/pound: UP at 85.36 pence from 85.25 pence
Dollar/yen: DOWN at 129.78 yen from 130.15 yen
Brent North Sea crude: UP 0.4 percent at $116.79 per barrel
West Texas Intermediate: UP 0.5 percent at $115.80 per barrel
burs-lcm-kjm/lc
A.S.Diogo--PC