The price of oil edged up Tuesday as strong U.S. factory output boosted the outlook for the world's biggest economy.
Oil prices were slightly lower Monday after Crimea's vote to split from Ukraine and join Russia.
Benchmark U.S. crude for April delivery was down 9 cents to $98.80 a barrel at 0715 GMT in electronic trading on the New York Mercantile Exchange. The contract rose 69 cents to close at $98.89 on Friday.
Oil prices edged slightly higher on Friday but remained under $100 a barrel as traders weighed whether an apparent pickup in the U.S. economy could spur enough demand to offset a slowdown in China and tension in the Ukraine.
MANILA, Philippines (AP) — Asian stock markets sank Wednesday as recent falls in Chinese copper and iron prices added to jitters that the world's No. 2 economy is continuing to slow.
Hong Kong's Hang Seng was down 1.6 percent at 21,916.59 and China's Shanghai Composite dropped 0.6 percent to 1,989.12. South Korea's Kospi shed 1.2 percent to 1,940.12.
The price of oil rose above $98 per barrel on Thursday after plunging the day before on concern China's economic slowdown is deepening.
The U.S. stock market was headed for a lower open Wednesday as concerns about China's economic outlook weighed on investors.
The price of oil dropped below $99 a barrel Wednesday as the possibility of a deeper economic slowdown in China fed expectations of weaker demand.
Benchmark U.S. crude for April delivery was down $1.34 to $98.70 at 1030 GMT in electronic trading on the New York Mercantile Exchange. The contract dropped $1.09 to close at $100.03 a barrel Tuesday.