Global markets were mixed amid easing oil prices as ​investors approached the end of a turbulent week marked by ‌a global push by central banks to quell inflation.

Wall Street futures edged higher after major North American markets closed up yesterday.

TSX futures were little changed.

“The good news is that oil prices may have topped for the moment,” Ipek Ozkardeskaya, senior analyst at Swissquote, wrote in a note. But “... if we don’t get a sustainable decline in oil prices, refined-product prices will remain elevated and continue to keep inflation expectations at uncomfortable levels.”

Overseas, the pan-European STOXX 600 was down 0.5 per cent in morning trading. Britain’s FTSE 100 slid 0.7 per cent, Germany’s DAX gave back 0.72 per cent and France’s CAC 40 eased 0.73 per cent.

In Asia, Japan’s Nikkei closed 1.38 per cent higher after the central bank boosted interest rates to their highest level in 31 years. Hong Kong’s Hang Seng climbed 0.6 per cent.

Oil prices extended ​losses for a third straight session as easing ‌concerns over Saudi supply disruptions outweighed anxiety about a widening of conflict across the Middle East.

Brent crude futures fell 1.57 per cent to US$103.20 a barrel. West Texas ⁠Intermediate (WTI) futures ​dropped 0.55 per cent to US$101.30.

Immediate concerns over supply tightness have been eased by a combination of Saudi Arabia loading more crude via Oman, a build in oil product inventories in the ​U.S., Singapore and Europe, plus increased fuel exports from ‌China, said PVM Oil Associates analyst Tamas Varga.

“While continuous pre-weekend profit-taking cannot be ruled out, the current fundamental outlook would not justify a prolonged fall below $100 (a barrel) basis Brent,” he added.

In other commodities, spot gold was up 1.1 per cent at US$4,387.69 an ounce. U.S. ​gold futures for December delivery rose 0.6 per cent to US$4,428.

The Canadian dollar weakened against its U.S. counterpart.

The day range on the loonie was 71.39 US cents to 71.56 US cents in early trading. The Canadian dollar was down about 1.67 per cent against the greenback over the past month. It traded at $1.4003 per US$1.

The U.S. dollar index, which weighs the greenback against a group of currencies, gained 0.1 per cent to 100.35.

The euro advanced 0.07 per cent to US$1.1484. The British pound rose 0.08 per cent to US$1.3369.

In bonds, the yield on the U.S. 10-year note was last up at 4.962 per cent.

The Bank of Japan made its latest policy announcement, raising interest rates by 25 basis points to 1.25 per cent.

ECB three-year CPI expectations

8:30 a.m. ET: Canada’s household and mortgage credit for July.

9:15 a.m. ET: U.S. industrial production and capacity utilization for August.

10 a.m. ET: U.S. leading indicator for August.

With Reuters and The Canadian Press