In Asia today, the Hang Seng ended the morning down 37.49 points at 16,426.69, while the Nikkei was recently down 51.29 points at 14,769.97.
New York's main oil contract, light sweet crude for delivery in September, was at $74.31 a barrel, down from $74.43 in late US trades Friday.
Early broker notes:
BURREN ENERGY INITIATED 'BUY' AT DEUTSCHE BANK; PRICE TARGET 1035P
PREMIER OIL INITIATED 'BUY' AT DEUTSCHE BANK; PRICE TARGET 1300P
CAIRN ENERGY INITIATED 'HOLD' AT DEUTSCHE BANK; PRICE TARGET 2,260P
VENTURE PRODUCTION INITIATED 'HOLD' AT DEUTSCHE BANK; PRICE TARGET 775P
JKX OIL INITIATED 'BUY' AT DEUTSCHE BANK; PRICE TARGET 385P