SINGAPORE, March 17 - Brent crude fell by as much as 1 percent on Thursday to below $110 as Japan's worsening nuclear crisis buffeted stock markets, raising questions about the impact of the earthquake on growth and energy demand.
OPEC stuck to its view that the world has enough oil despite the loss of Libya's crude and prices of $113 a barrel, pointing to rising output from other members and a looming seasonal slowdown in demand.
Stocks extended losses on Thursday, with the S&P 500 hitting session lows as traders cited anxiety over Saudi police firing on protesters.
U.S. stocks wavered between small gains and losses on Wednesday as oil prices remained near $105 a barrel amid reports of intensified fighting in Libya.
Stock index futures edged higher on Wednesday as oil prices held steady after an OPEC official said the group saw no need for a meeting to discuss raising output even as turmoil in Libya continued.
U.S. stock index futures rose on Wednesday as oil prices held steady after an OPEC official said the group saw no need for an emergency meeting to discuss raising its output even as turmoil in Libya continued.
Oil rose over $1 on Wednesday to trade at more than $114 a barrel as fighting intensified in Libya, and an OPEC delegate said it saw no need to hold an emergency meeting to ease supply fears.
Oil rose over $1 on Wednesday to trade at over $114 a barrel as fighting intensified in Libya, and OPEC said it saw no need to hold an emergency meeting to ease supply fears.
Concerns about the euro zone debt crisis weighed on world stocks and lifted Portugal's yields to a new euro-era peak on Wednesday, while crude oil held steady off highs following reassurances on supply from OPEC states.
Oil prices slipped on Tuesday, with Brent falling nearly 2 percent, after Kuwait's oil minister said OPEC was considering a production boost as war-torn Libya's output remained disrupted and the region's unrest fueled concerns about more supplies being cut off.
Oil prices slipped on Tuesday, with Brent falling nearly 2 percent, after Kuwait's oil minister said OPEC was considering a production boost as war-torn Libya's output remained disrupted and the region's unrest fueled concerns about more supplies being cut off.
OPEC is in talks about boosting oil supplies, Kuwait's oil minister said on Tuesday, but many in the group remained skeptical, saying world supply is comfortable despite the loss of Libyan crude.
U.S. stocks advanced on Tuesday as oil prices eased to below $105 a barrel and financials rallied after Bank of America announced plans to increase dividends in the second half of the year.
Oil prices fell on Tuesday after Kuwait's oil minister said OPEC was considering the first official production boost in more than two years to ease anxiety about Libya's supply disruption and the potential for other disruptions in the region.
Oil prices fell sharply on Tuesday with Brent crude dropping more than $2 a barrel after Kuwait's oil minister said OPEC was considering boosting production for the first time in more than two years.
U.S. stocks were flat on Tuesday as continued turmoil in Libya indicated a quick resolution to the unrest in that country was not on the horizon and a drop in oil prices failed to ease investor worry about the economic recovery.
Oil prices fell on Tuesday, with North Sea Brent crude dropping more than $2 a barrel briefly after Kuwait's oil minister said OPEC was considering boosting production for the first time in more than two years.
U.S. stock index futures pointed to a flat open on Tuesday as more turmoil in Libya indicated a resolution was not close and a drop in oil prices failed to ease investor worry about the economic recovery.
Stock index futures rose on Tuesday as oil prices pulled back on prospects of an OPEC production hike after recent turmoil in the Middle East and North Africa caused a spike in prices.
OPEC is in consultations regarding a potential boost in oil output but hasn't decided whether to approve one, Kuwait's Oil Minister said on Tuesday.
Oil fell from recent highs on Tuesday on reports that OPEC may boost production, prompting some recovery on equity markets.
Members of oil cartel OPEC are joining Saudi Arabia in raising output to cool soaring prices and allay fears of a supply crunch in the West, the Financial Times newspaper reported on Tuesday.