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SINGAPORE, Nov 30 (Reuters) – Oil prices firmed in Asian trade on Wednesday on falling U.S. crude inventory figures from API, a lower greenback and some optimism on the outlook for China’s demand and economy.

A high likelihood that OPEC+ would leave output unchanged at its upcoming meeting limited gains.

Brent crude futures had firmed 70 cents or 0.84% to $83.73 per barrel by 0732 GMT, while U.S. West Texas Intermediate (WTI) crude futures climbed 56 cents or 0.72% to $78.76 per barrel.

Full coverage: REUTERS

Brussels Proposes Plan To Confiscate Frozen Russian Assets

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BRUSSELS, Nov 30 (Reuters) – The European Commission on Wednesday proposed confiscating Russian assets that have been frozen to punish Moscow for the invasion of Ukraine, exploring legal options with the EU’s partners to compensate Kyiv for damage to the country.

Officials in the European Union, the United States and other Western countries have debated for months how to legally seize Russian assets held abroad – both state and private – that are frozen by sanctions.

Full coverage: REUTERS

Chinese Astronauts Board Space Station In Historic Mission

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BEIJING, Nov 30 (Reuters) – Three Chinese astronauts arrived on Wednesday at China’s space station for the first in-orbit crew rotation in Chinese space history, launching operation of the second inhabited outpost in low-Earth orbit after the NASA-led International Space Station.

The spacecraft Shenzhou-15, or “Divine Vessel”, and its three passengers lifted off atop a Long March-2F rocket from the Jiuquan Satellite Launch Centre at 11:08 p.m. (1508 GMT) on Tuesday in sub-freezing temperatures in the Gobi Desert in northwest China, according to state television.

Full coverage: REUTERS

Asia Stocks Rebound Despite Disappointing China Data

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HONG KONG, Nov 30 (Reuters) – Asian shares rebounded on Wednesday as investors pinned hopes on China eventually reopening its economy despite growing COVID lockdowns that pushed its factory and services sector activity deeper into contraction.

Europe and Wall Street were also set to open higher with FTSE futures and E-mini futures for the S&P 500 index up 0.35% and 0.15%, respectively, at 0518 GMT.

MSCI’s broadest gauge of Asia Pacific stocks outside Japan (MIAPJ0000PUS) reversed morning losses to gain 0.67%. At current levels, the index is set to post its biggest monthly gain since April 1999.

Full coverage: REUTERS

Morning Bid: How To Be Hawkish By J.Powell

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SYDNEY, Nov 30 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole.

So Tuesday’s bout of post-pandemic euphoria in Chinese markets has cooled today, perhaps a recognition of just how long it will likely take to materially raise vaccination rates there.

Even when restrictions ease, it will mean more infections and illness which could hamper growth over the first half of next year. Disappointing Chinese PMI surveys for November just underline the damage already done.

Full coverage: REUTERS