Crude extended gains in Asia Friday following a 10 percent price surge in the previous session fueled by strong US economic data.

US benchmark West Texas Intermediate (WTI) for October delivery rose 66 cents to $43.22 while Brent crude for October gained 64 cents to $48.20 in afternoon trade. 

Boeing has won a $1.49 billion contract to build 13 additional P-8A maritime surveillance aircraft, and provide parts for 20 other aircraft of the same type.

The Defense Department said Thursday that nine planes were being built for the U.S. Navy, while the four others were designed for the Royal Australian Air Force.

Ukraine said Thursday it had reach a crucial debt restructuring agreement that will see lenders accept a 20-percent principal write-down and keep global markets open to the cash-strapped ex-Soviet state.

"The deal agrees a 20 percent haircut on Ukraine's stock of sovereign and sovereign guaranteed debt, having immediate debt relief totalling approximately $3.6 billion," the finance ministry said in a statement.

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China's central bank on Thursday set its central rate for the yuan currency at a four-year low against the U.S. dollar, a move analysts said reflected reduced expectations for the unit following a devaluation.

The yuan was fixed at 6.4085 to the greenback, according to the China Foreign Exchange Trade System, just 0.07 percent weaker from the previous day. But it was the lowest since August 2011, the Shanghai Securities News said on its website.

Oil rose in Asia Thursday as dealers digested a mixed U.S. energy report showing a dip in crude inventories, but barely any decline in production despite sinking prices.

U.S. benchmark West Texas Intermediate for October delivery gained 87 cents to $39.47 while Brent crude for October rose $1.01 to $44.15 in afternoon trade.

European markets joined Asia on a roller-coaster session Wednesday, as China's interest rate cut showed no sign of ending a crisis fuelled by fears over stalling growth in the world's number-two economy.

Frazzled investors sent Europe's top indexes falling by more than one percent in late morning trade after a choppy session on Asian bourses, and analysts predicted more turbulence ahead.

Oil prices dipped on Wednesday, trading near six-year lows ahead of the latest U.S. energy report after jitters over China's faltering economy spurred heavy losses this week, analysts said. 

U.S. benchmark West Texas Intermediate for October delivery fell 13 cents to $39.18 in Asian trading, while Brent crude for October eased 13 cents to $43.08 in late-morning trade. 

China and Japan are locked in an increasingly heated contest to build Indonesia's first high-speed railway, with the Asian giants sweetening deals and turning up the charm as time runs out to woo Jakarta.

The rivalry over this major project is just the latest to flare up as China challenges Japan's long-standing dominance in Southeast Asia as a key source of infrastructure funding.

Ukraine and its biggest lenders appeared to be making cautious but steady progress Tuesday toward a debt restructuring deal that would save the war-torn country from hurtling into default.

The Wall Street Journal reported Monday that a group of commercial creditors holding nearly half of the $19 billion (16.5 billion euros) in debt under negotiation have offered to take a 20 percent write-down on the face value of their bonds.