Asian Shares Extend Gains As Oil Markets Stabilize

Asian stocks rose on Wednesday to extend gains from the previous session as oil prices stabilized on easing supply concerns following reports that the International Energy Agency (IEA) may deploy its largest-ever stockpile draw to offset supply risks from war.

Investors also digested better-than-expected fiscal Q3 results from enterprise and cloud-computing giant Oracle and looked ahead to the release of key U.S. inflation data for fresh insights into the Federal Reserve’s rate path.