Brent crude passed $50 a barrel for the first time in 2016 in Asia Thursday after data showed a fall in US crude inventories, adding to expectations of a tightening global market. At around 0220 GMT, Brent North Sea crude for July delivery was up 27 cents at $50.01 a barrel while US benchmark West Texas Intermediate (WTI) was trading 21 cents higher at $49.77.
The powerful United Auto Workers union endorsed Hillary Clinton's White House bid and questioned Donald Trump's support of its members. "In 2009 she fought for preserving collective bargaining rights and stood up against attacks on collective bargaining when we needed her. The union's backing will be important in battleground states in the industrial "Rust Belt," such as Wisconsin, Michigan, Ohio and Pennsylvania, which are thought to hold the keys to November's election.