Stocks in Asia were set to trade higher Friday following a record surge in oil prices that saw U.S. crude futures soaring more than 24%.
Futures pointed to a higher open for Japanese stocks, while shares in Australia were higher in early trade.
Investor focus on Friday will likely be on the overnight surge in oil prices, with U.S. crude settling 24.67% higher at $25.32 per barrel. International benchmark Brent crude futures also gained 17.8% to $29.14 per barrel. Still, concerns over the economic impact of the global coronavirus pandemic are likely to linger. On Thursday, the U.S. Labor Department said U.S. initial jobless claims surged to more than 6 million last week, reaching a new record as coronavirus-related shutdowns roll through the country.
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