London's FTSE 100 ended lower on Tuesday, a day after hitting a three-week high, bogged down by a stronger pound and weakness in the shares of oil majors.
PKN Orlen has terminated its contract with Russia's Tatneft without paying any penalties, the Polish company's chief executive said on Tuesday, after Moscow halted supplies of oil to Poland.
Malaysian Prime Minister Anwar Ibrahim on Monday said he was prepared to negotiate with China over a maritime dispute between the two countries, days after a think tank reported Chinese patrolling close to a Malaysian offshore gas project.
Brent oil prices could still end the year at $96 per barrel, J.P. Morgan analysts said, adding they view the surprise OPEC supply target cuts as a "preemptive measure" to assure that surpluses in the market do not extend into the second half of 2023.
Russia's largest oil producer Rosneft and India's top refiner Indian Oil Corp agreed to use the Asia-focused Dubai oil price benchmark in their latest deal to deliver Russian oil to India, three sources familiar with the deal said.