Asian stocks fell on Thursday after a global rise this week following a overnight downturn in Wall Street, and oil declined as the United States cut large reserves to contain rising fuel prices.
Brent oil futures fell 4.4 percent to $ 108.50 a barrel and US crude futures fell more than 5 percent to $ 101.76 a barrel, according to ISNA.
The United States is considering releasing 180 million barrels of oil from strategic reserves over several months as the White House seeks to reduce fuel prices, which have risen since Russia's invasion of Ukraine late last month, four US sources said.
Meanwhile, stock growth slowed amid hopes for a speedy peace and optimism over concerns about a possible interest rate hike.
The broadest Asia-Pacific stock index outside Japan fell 0.2 percent, followed by a 0.7 percent decline in Hong Kong Hong Kong. Japan's Nikkei fell 0.2 percent. The Australian index rose 0.4 percent.
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite Indices fell following similar downtrends in European stocks.
"The sales in the US markets we are looking for reflect the ongoing assessment of inflationary threats and the actions that the Federal Reserve will take," said Rob Carnell, chief economist at ING Bank Singapore.
In the past 24 hours, markets have reacted cautiously to the events in Ukraine, and Russia has shifted its focus away from Kyiv again, but the situation still looks completely uncertain.
Bond markets also remained silent after strong sales.
The two-year return on Treasury, which follows policy expectations, last closed at 2.2922 percent, up more than 150 basis points for the quarter.
Yields on 10-year Treasury bonds, which are more sensitive to the long-term growth outlook, were at 2.3337%, the highest level since May 2019, after reaching 2.56% on Monday.
Inflation continues to put pressure on governments and central banks around the world. Germany recorded an inflation rate of 7.6 percent on Wednesday, pushing its two-year bond yields to a positive level for the first time since 2014.
