NEW YORK， Dec. 14 (Xinhua) -- Oil prices dropped on Wednesday as supplies at the biggest U.S. storage hub rose to a six-month high， and that the Federal Reserve decided to raise interest rates.


Inventories at Cushing， Oklahoma， delivery hub for West Texas Intermediate oil， rose by 1.22 million barrels last week， according to data released by the U.S.Energy Information Administration on Wednesday.


Oil price extended losses after the Federal Reserve raised the interest rate by a quarter point， as the news boosted the U.S. dollar. A stronger dollar made fuel imports more expensive for countries using other currencies.


The West Texas Intermediate for January Delivery dropped 1.94 dollars to settle at 51.04 dollars a barrel on the New York Mercantile Exchange， while Brent crude for February delivery decreased 1.82 dollars to close at 53.90 dollars a barrel on the London ICE Futures Exchange.


TOKYO Nike Vapormax Off White White UK Sale , May 21 (Xinhua) -- Japan's Nikkei stock lost 0.24 percent as the yen's rise impacted exporters and Wall Street's losses overnight did little to inspire the market ahead of the conclusion of the central bank's policy meeting.


The Nikkei Stock Average lost 33.08 points from Tuesday to close at 14,042.17, while the broader Topix index fell 3.33 points, or 0.29 percent, to finish at 1 Nike Vapormax Off White Black White UK Sale ,150.05.


Brokers said that trade was thin and rangebound and with U.S. shares falling overnight, trade got off to a lackluster start. This was compounded by data from Japan's Finance Ministry released just before the markets opened showing Japan's trade deficit in April had been impacted by slowing consumer spending following the sales hike here on April 1.


According to the ministry, imports rose 3.4 percent from a year earlier, the least in 16 months, while exports increased 5.1 percent Nike Air Max 95 Womens UK Sale , leaving a trade deficit of 808.9 billion yen.


With a predominant view that the central bank would stay pat on monetary policy, all hopes for further easing were dashed when the Bank of Japan (BOJ) announced after its two day policy meeting that it had no plans for further easing despite the impact of the sakes tax hike and believes the world's third-largest economy is on the right track and picking up pace.


"There has been a view that the BOJ would act sooner to surprise the market, but that prospect is gradually diminishing. It's no surprise they kept policy unchanged," said Yusuke Kuwayama, a portfolio manager at Tokio Marine & Nichido Fire Insurance Co. in Tokyo.


With the news sending the yen to 101.18 per U.S. dollar in currency trading Nike Air Max 95 Mens UK Sale , more investors hit the sidelines to see if the BOJ's chiefs press conference after the markets close would shed any more light on its future policy objectives.


Exporters, largely reliant on a weak yen to boost competitiveness and overseas profits when repatriated, came under pressure, with Canon dropping 1.31 percent to 3,296 yen Nike Air Max 95 UK Sale , while Sony closed down 0.67 percent to end at 1,614 yen.


Automakers also skidded down, with Toyota Motor losing 0.9 percent to 5,420 yen while smaller rival Suzuki Motor reversed 0.4 percent to 2,823 yen.


Construction machinery maker Komatsu lost 3.1 percent to 2 Nike Air Max 97 Summit White UK Sale ,170 yen on news that Caterpillar reported its global sales had tumbled 13 percent in the first quarter compared to the same period a year earlier, and Hitachi Construction Machinery Co. fell 3.5 percent to finish at 1,811 yen.


Mobile content developer Nihon Enterprise was a notable decliner Wednesday, plunging 8.8 percent to 217 yen, after the company announced it had cut its full-year net income forecast by 27 percent to 415 million yen.


But oil and exploration issues performed well Nike Air Max 97 Undefeated UK Sale , with Inpex Corp. gaining 2.9 percent to 1,472 yen, while Japan Petroleum Exploration Co. leaped 8 percent to 4,200 yen, following SMBC Nikko Securities Inc. raising its rating on the company's stock from "neutral" to "outperform."


Trading volume on Wednesday dropped to 1 Nike Air Max 97 Womens UK Sale ,795.77 million shares, on the Tokyo Exchange's First Section, marginally down from Tuesday's volume of 1,798.19 million shares, with declining issues outnumbering advancing ones by 983 to 672.


The Philippines presented evidence to an international tribunal against China's sweeping territorial claims in the South China Sea Nike Air Max 97 Mens UK Sale , ignoring Beijing's warning that the case will damage ties.


Foreign Secretary Albert del Rosario told a news conference Sunday that the documents submitted electronically to the tribunal in The Hague consist of nearly 4,000 pages of analysis and documentary evidence.


Filipino officials took their territorial disputes with China to international arbitration in January 2013, after Chinese government ships took control of a disputed shoal off the northwestern Philippines. They asked the tribunal to declare China's claims to about 80 percent of the strategic waters and Beijing's seizure of eight South China Sea shoals and reefs illegal.


Chinese Foreign Ministry spokesman Hong Lei said last week that China will never accept nor participate in the international arbitration pushed by the Philippines. He called on the Philippines "to stop going any further down the wrong track so as to avoid further damage to bilateral relations."


In Washington, U.S. State Department deputy spokeswoman Marie Harf backed the Philippines' action, saying "all countries should respect the right of any states party Nike Air Max 97 UK Sale , including the Republic of the Philippines, to avail themselves of the dispute resolution mechanisms provided for under the Law of the Sea Convention."


"We hope that this case serves to provide greater legal certainty and compliance with the international law of the sea," she said in a statement. She reiterated a longstanding U.S. position that all parties refrain from taking unilateral actions that are "escalatory and destabilizing, to clarify their respective maritime and territorial claims in accordance w.

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