Oil prices were set to register their third consecutive weekly gain for the first time since April, rising on Friday due to supply disruptions in Libya and Nigeria, and hopes of higher demand for crude due to easing U.S. inflation.

The dollar hovered at 15-month lows on Friday after a steep dive overnight, as markets wagered the Federal Reserve was close to the end of its rate hike cycle due to easing inflation.

The Industrial Production Index (IPI) rebounded to 4.7% in May 2023 as against negative 3.3% recorded in the previous month, driven by positive momentum in all sectors, according to the Statistics Department.

Asian shares and bonds rallied on Thursday while the dollar nursed heavy losses, as a surprisingly low reading on U.S. inflation stoked speculation the end of the post-pandemic tightening cycle is in sight.

Britain's economy is showing some signs of strain from the Bank of England's 13 back-to-back interest rate increases, but the jobs market is still generating inflationary heat and consumers have not reined in their spending sharply.

Japanese households' inflation expectations rose in the three months to June, a central bank survey showed on Wednesday, adding to growing signs that conditions for phasing out massive monetary stimulus may be falling in place.