Oil prices were little changed on Thursday as falling fuel demand in the U.S., the world's biggest oil user, amid signs of a slowing economy contended with concerns for a widening conflict in the key Middle East producing region.

Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms (NASDAQ:META) hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo.

Oil prices tread water in Asian trade on Wednesday, cooling after recent volatility as focus shifted from easing tensions in the Middle East to more upcoming cues on the U.S. economy and interest rates. 

Most Asian stocks rose on Wednesday on an extended rebound in the technology sector as investors awaited key earnings from some of the biggest companies in the world.

The Bank of Japan will raise interest rates again if trend inflation accelerates toward its 2% target as expected, governor Kazuo Ueda said, keeping alive market expectations of a further withdrawal of monetary support later this year.

The U.S. Federal Reserve will wait until September to cut its key interest rate, according to a majority of 100 economists polled by Reuters, with half saying there will be only two cuts this year and only about a third forecasting more.