Asian markets jump as oil nears $50

Commodity-sensitive currencies also higher

Asian and American equities rose overnight as the oil price threatened to break the $50 level for the first time since November.

Brent crude oil rose to $49.24 a barrel, up 0.5% on the day as concerns emerged about supply disruptions in Nigeria and Goldman Sachs, a bank which has been extremely bearish on oil, upgraded its outlook, according to the Financial Times. Energy stocks led Japanese equities higher with the Nikkei 225 rising 1.1% to 16,652.8 points, while the Hang Seng jumped 0.8% to 20,034.6 points. Australian equities also benefitted, with the S&P/ASX 200 increasing by 0.7% to 5,395.9 points. In the US, the S&P 500 also moved up by almost 1% to close at 2,066.7, also boosted by Warren Buffett's ann...