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European stocks inched higher on Wednesday as markets digest the latest data and monitor the region’s latest Covid surge.

European stocks inched higher on Wednesday as markets digest the latest data and monitor the region’s latest Covid surge.

These are the stocks posting the largest moves in midday trading.

Any impact on oil prices from a release of crude from strategic petroleum reserves by the United States and other countries may not be sustained for long, JP Morgan Global Commodities Research said on Wednesday.

U.S. President Joe Biden's decision to tap the nation's emergency oil stockpiles marks the first time in two decades that a president has used the reserve to tame energy prices instead of tackle a supply disruption.

The U.S. Department of Energy is expected to announce a loan of oil from the Strategic Petroleum Reserve on Tuesday in coordination with other countries, a Biden administration source familiar with the situation said.

South Korea's finance minister on Tuesday said the government will use part of excess tax revenue collected this year to aid small businesses hit by measures to contain COVID-19 outbreak.

South Korea's central bank will raise interest rates on Thursday and carry a tightening cycle into next year as it tries to curb rising inflation and soaring home prices that have households piling on ever more debt, a Reuters poll found.

Former South Korean President Chun Doo-hwan, whose iron-fisted rule of the country following a 1979 military coup sparked massive democracy protests, died on Tuesday at the age of 90, his former press aide said.

For the first time in a decade a massive new liquefied natural gas (LNG) project has been approved for construction in Australia, but the Scarborough venture's structure and market realities indicate it may well be the last of its kind.