The Street Beat

Oil prices fell to near $102 a barrel Monday in Asia amid hopes international talks this week may help avoid military action over Iran's nuclear program.

Oil prices rose slightly to near $107 a barrel on Wednesday, steadying after a large drop the day before, amid mixed signs about the strength of U.S. crude demand.

Oil prices fell below $98 a barrel Tuesday in Asia as European leaders raced to contain the continent's debt crisis and keep the euro currency block intact. Benchmark crude for January delivery was down 47 cents to $97.74 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.44 to settle at $98.21 on Monday.

Oil prices rose above $99 a barrel Monday in Asia, taking a cue from gains in stock markets after a strong start to the U.S. holiday shopping season. Benchmark crude for January delivery was up $2.49 to $99.30 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 60 cents to settle at $96.77 on Friday.

Oil prices were lower on Wednesday following a broad sell-off on Wall Street that was stoked by fears that Europe would be overwhelmed by a mountain of debt.

Oil rose to the highest price in more than three months in New York on signs of shrinking stockpiles in the U.S. and amid speculation European leaders will make progress in containing the region’s debt crisis. Futures advanced for a fifth day, gaining as much as 1.1 percent. Crude supplies at Cushing, Oklahoma, fell 4.4 percent in the first three days of the month, data from DigitalGlobe Inc. showed.

Oil rose its highest in three months in New York as signs that Europe will reach an agreement with Greece on a rescue plan reduced concern economic growth will falter and damp fuel demand.

Oil is falling with the stock market as a surprise referendum in Greece threatens to derail a plan to bolster Europe's banks. Benchmark crude on Tuesday morning fell $2.26, or 2.4 percent, to $90.94 per barrel in New York, while Brent crude lost $2.40 to $107.16 in London.