- Trial begins in Italy student murder case that opened eyes to femicide
- Family of murdered Sri Lanka editor seek justice from new president
- Austria's far right woos anti-vaxxers with fund for vaccine 'victims'
- Long wait for justice in India's backlogged courts
- Rohingya refugees detail worsening violence in Myanmar
- Rescuers comb muddy riverbanks after Japan floods kill six
- Sri Lankan leftist leader sworn in after landslide election win
- Indonesia, NZ deny Papua rebel claim 'bribe' paid for pilot release
- Swearing, shoeys and swift legs: Singapore GP talking points
- South Korea warns of 'decisive' action against trash balloons
- Football Australia names Tony Popovic as Socceroos coach
- Japan quake, flood victim attempts fresh start with wife's memory
- Japan quake, flood victim attemps fresh start with wife's memory
- Asian markets extend gains as focus turns to US inflation
- Six dead after floods in central Japan: media
- Australian golf prodigy suffers career-threatening eye injury
- Gaza hospital a symbol of the ruin of war
- October 7: how Israel's deadliest day unfolded
- Bibles, sneakers, silver coins: Trump's merch for sale
- Met Opera opens season with tech-heavy 'Grounded'
- Colombia's Inirida flower: from 'weed' to emblem for UN meeting
- Colombia rebel group imposes control in restive coca zone
- Rams fight back to upset 49ers, Cowboys lose again
- Sri Lankan leftist leader to take office after landslide election win
- 300-kilo WWI bomb removed in Belgrade
- Zelensky in US to explain war plan to Biden, Harris, Trump
- 'Atrocious' Sudan war pushing refugees further afield: UNHCR chief
- 'Convergence' growing on global plastics treaty: UN environment chief
- MLB White Sox fall to Padres to match one-season loss mark
- All-Australian Ripper squad captures LIV Golf team crown
- Barnier promises compromise from France's embattled new govt
- Zelensky arrives in US to explain war plan to Biden
- Barca rout Villarreal but Ter Stegen hurt, Atletico draw at Rayo
- Darnold shines for Vikings, Steelers and Eagles win
- Atletico held to draw at Rayo Vallecano
- Marseille stun Lyon with 95th-minute winner after early red card
- Gabbia ends AC Milan's derby pain with late winner against Inter
- Surging Ko claims LPGA Queen City crown in spectacular style
- 'Impossible': Alcaraz shoots down Federer comparisons after Laver Cup win
- Scholz's party beats far-right AfD in east German state vote
- Verstappen says 'silly' swearing row could hasten F1 exit
- Calls for Israel and Hezbollah to step back from the abyss
- Israel and Hezbollah urged to avoid 'catastrophe'
- Colombia battles fires as drought fuels Latin American flames
- Pressure piles on new French government from day one
- Arteta proud as Arsenal salvage point from 'impossible' task
- Barca rout Villarreal in thriller but Ter Stegen hurt
- Roma stroll past Udinese as fans protest De Rossi sacking
- Horschel outduels McIlroy to win PGA Championship play-off
- Audiences summon 'Beetlejuice' to top of N. America box office for third week
Oil prices sink as US considers tapping reserves, stocks struggle
Oil prices tumbled Thursday on reports that the United States is considering tapping its reserves to combat a supply crisis sparked by the Ukraine war.
However, equities struggled to build on the week's rally after Russia poured cold water on hopes that ceasefire talks were progressing, leaving the prospect of a protracted war in eastern Europe that has already sent shockwaves through the world economy.
WTI tumbled more than five percent and Brent more than four percent as reports said President Joe Biden was looking at releasing a million barrels a day for several months as he tries to temper a surge in the market to more than $100.
Concerns about demand in China owing to a lockdown in Shanghai was adding to downward pressure.
The White House this month put an embargo on oil from Russia as part of a series of wide-ranging sanctions against the country for its invasion.
However, that sent prices soaring further and put added upward pressure on world inflation, which was already at multi-decade highs.
Officials said the president would make a statement Thursday on plans to cut energy costs "and lower gas prices at the pump for American families".
The news comes as the International Energy Agency urges other countries to further tap their reserves.
A coordinated release earlier this year, before the war, did little to temper a rally in prices, which were being boosted by the global economic reopening and expectations for a pick-up in demand.
Meanwhile OPEC and other major producers including Russia are preparing for their monthly meeting later in the day where they are expected to refrain from lifting output by more than their planned 400,000 barrels, despite the growing energy crisis.
While the drop in oil prices will be welcomed on trading floors, Asian equity markets were mixed after three days of healthy gains and following comments from Russian officials playing down progress in talks with Ukraine over the ceasefire.
Tokyo, Hong Kong, Shanghai, Singapore and Wellington fell, though Sydney, Seoul, Taipei, Manila and Jakarta edged up.
Traders on Wednesday jumped on news that Moscow had pledged after negotiations in Istanbul to "radically" reduce its attacks.
Both sides initially said the gathering Tuesday had been productive but on Wednesday Kremlin spokesman Dmitry Peskov said: "We cannot state that there was anything too promising."
Investors are awaiting the release Friday of US jobs data for an idea about the impact of soaring inflation and the war on the world's top economy.
The reading could also be of particular importance regarding the Federal Reserve's plans for monetary policy as it pivots to a more aggressive approach in a bid to staunch the surge in prices, which many fear will hammer growth.
- Key figures around 0300 GMT -
West Texas Intermediate: DOWN 5.2 percent at $102.20 per barrel
Brent North Sea crude: DOWN 4.2 percent at $108.65 per barrel
Tokyo - Nikkei 225: DOWN 0.2 percent at 27,977.98 (break)
Hong Kong - Hang Seng Index: DOWN 0.9 percent at 22,041.28
Shanghai - Composite: DOWN 0.1 percent at 3,264.10
Euro/dollar: UP at $1.1172 from $1.1162 late Wednesday
Pound/dollar: DOWN at $1.3127 from $1.3136
Euro/pound: UP at 85.11 pence from 84.93 pence
Dollar/yen: UP at 122.11 yen from 121.79 yen
New York - DOW: DOWN 0.2 percent at 35,228.81 (close)
London - FTSE 100: UP 0.6 percent at 7,578.75 (close)
R.Adler--BTB