Oil prices held above $74 a barrel Wednesday in Asia after OPEC left output levels unchanged and a report showed U.S. crude inventories fell last week.
Asian markets rose Tuesday, snapping a string of losses, as a weaker yen boosted Japanese shares.
Stocks in Tokyo rose this morning as bank shares surged on a news report that tougher capital regulations for large banks may be delayed.
Oil prices were mixed in Asian trade as worries over border tensions between Iran and Iraq eased, and the Christmas holidays kept traders on the sidelines, analysts said.
Oil prices fell below $69 a barrel in Asia amid signs OPEC won't cut crude output when it meets next week.
Sitting comfortably on strong oil prices, OPEC crude producers are set to hold their output steady at their meeting in Angola on Tuesday.
Oil prices hung below $71 a barrel Thursday in Asia amid growing investor concern that U.S. crude demand isn't improving.
The stock market broke a three-day slide as two big technology companies signalled that business was improving, raising hopes about business spending.
Investors dumped stocks and sought safe-haven assets like the dollar and Treasurys on signs that the global economy is still struggling.
An early advance in stocks stalled Wednesday as the Federal Reserve reminded investors that it would start to wean the economy from an array of emergency supports next year.
Oil prices hovered below $76 a barrel in Asia after several OPEC ministers said they don't expect their group to change production levels at a meeting later this month.
