Oil prices eased in early trade on Thursday as concerns about a potential slowdown in the U.S. economy amid prospects for delayed interest rate cuts outweighed worries over the risk of expanding conflict in the Middle East. "Tensions between Iran and Israel have eased, but Israeli attacks on Gaza are expected to worsen, and the risk of conflicts spreading to neighbouring countries is underpinning oil prices," said Toshitaka Tazawa, an analyst at Fujitomi Securities Co Ltd.
An Indigenous group in Brazil said Wednesday its members detained 12 people for allegedly mining illegally in the Amazon and handed them over to police. The non-profit Urihi Associação Yanomami said in a statement that the incident took place Tuesday in the northern state of Roraima, which borders Venezuela. Brazil's Indigenous Peoples Ministry confirmed that a dozen alleged miners, including 10 men and two women, were in police custody.
The yen was pinned on the weaker side of 155 per dollar on Thursday as the Bank of Japan (BOJ) kicks off its two-day rate-setting meeting, leaving traders nervous as to whether Tokyo will intervene while policy deliberations are still underway. Having traded in a tight range over the past few days, a buoyant dollar finally broke above the 155 yen level for the first time since 1990 in the previous session, and was last steady at 155.34 yen in early Asia trade. Intense speculation of intervention from Japanese authorities to shore up the yen had hampered the dollar's ascent towards the psychologically key level, seen by some market participants as a line in the sand that would prompt Tokyo to take action.