Asian stocks rise after S&P's record close; Nikon sinks 11% on profit drop

A day earlier, the International Energy Agency said in a monthly report that global oil supply stood at 95.7 million barrels per day, as a slowdown in U.S. shale production failed to offset increased output among OPEC nations and several unexpected non-OPEC members. The supply level remained unchanged from the previous month.

On the Intercontinental Exchange (ICE), Brent crude for July delivery neared $68 a barrel before falling to $66.66 at Thursday's close, down 0.61 or 0.91%.

As U.S. president Barack Obama discussed the framework of a comprehensive Iranian nuclear deal with a host of Persian Gulf leaders at a summit at Camp David, house leaders continued their debate on the merits of an agreement on Capitol Hill. After a vote on the Iran Nuclear Agreement Review Act of 2015 received near unanimous support, the legislation will go to the White House for President Obama's signature.

"It is fair to say that there are deep, bipartisan concerns about where these negotiations are heading," Rep. Ed Royce (R – California), Chairman of the House Foreign Affairs Committee, said in a statement. "I fear that the agreement that is coming will be too short, sanctions relief will be too rapid, inspectors will be too restricted, and Iran’s missile program will be plain ignored."

Last month, Reuters reported that Iran has 30 million barrels of oil stored in offshore tankers ready for export, after the Persian Gulf nation agreed on the framework of a nuclear deal with Western powers. In addition, Facts Global Energy, an energy consulting firm, has forecast that Iranian oil exports could reach a level of 1.7 million barrels per day within 12 months of a final deal, up from its current level of a million bpd.

If economic sanctions are lifted against Iran, an outflow of Iranian oil could depress energy prices in a global market already saturated by a glut of crude supply.

Elsewhere, Iranian ships reportedly sent warning shots near a Singapore-flagged ship on Thursday in international waters, causing it to retreat into United Arab Emirates waters, according to U.S. officials. Earlier this month, Iran captured a Marshall Islands-flagged merchant ship in the Strait of Hormuz following a financial dispute.

In Yemen, millions of citizens received shipments of food and medicine in the midst of a five-day ceasefire between Iranian-backed, Shiite-led Houthi rebels and Saudi Arabia. Yemen has been bombarded by Saudi-led airstrikes since late-March when a Houthi advance forced president Abd-Rabbu Mansour Hadi to flee the country.

Energy traders are sensitive to any geopolitical news involving Saudi Arabia, the world's top exporter of crude.

he Japanese yen ticked slightly lower on Friday after data showed corporate goods prices dropped a year after a controversial sales tax was implemented.

USD/JPY changed hands at 119.20, up 0.04%,after the data.

In Japan, the release of April CGPI showed a drop of 2.1% year-on-year, matching expectations and notching the first drop in 25 months since -0.5% in March 2013 as the base effect of the April 2014 sales tax hike fades.

Bank of Japan Governor Haruhiko Kuroda is due to speak on monetary policy at a seminar hosted by the Yomiuri Shimbun in Tokyo from 1240 to 1340 (0340 to 0440 GMT).

Late in the session, at 1400 (0500 GMT) the April consumer confidence survey is due. In March, the consumer-confidence index rose 0.8 points to a seasonally adjusted 41.7, marking the fourth consecutive rise and the highest since 41.7 in December 2013.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.04% to 93.44.

AUD/USD traded at 0.8085, up 0.04%.

Overnight,the dollar remained at four-month lows against a basket of other major currencies on Thursday, as data showing that U.S. jobless claims fell unexpectedly last week failed to fuel optimism over the strength of the country's economy.

In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending May 9 fell by 1,000 to 264,000 from the previous week's total of 265,000.

Analysts had expected initial jobless claims to rise by 10,000 to 275,000 last week.

A separate report showed that U.S. producer prices fell 0.4% in April, compared to expectations for a 0.2% rise, after an uptick of 0.2% the previous month.

Core producer prices, which exclude food, energy and trade, slipped 0.2% last month, confounding expectations for a 0.1% gain, after a 0.2% rise in March