Oil prices were mixed in Asian trade on Wednesday as concerns over Europe's sovereign debt crisis
continue to niggle investors, despite Spain's above-target bond auction.
New York's main contract, West Texas Intermediate crude for delivery in May was up three cents to $104.23 per barrel while Brent North Sea crude for June shed 11 cents to $118.67 in morning trade.
Spain on Tuesday said it sold more 12- and 18-month bonds
than it had planned - slightly easing concerns over the country's ability to repay its debts - although yields on the two were higher than previously.
Eyes will now be on a crucial sale auction of benchmark 10-year debt on Thursday.
The International Monetary Fund said in its semi-annual report that eurozone governments and banks continue to face daunting refinancing needs of about 23 per cent of gross domestic product this year alone.
The IMF said the US economy - the world's biggest - would grow this year by 2.1 per cent, up 0.3 percentage points from its January estimate.
However, the fund warned that Washington's bickering politicians should solve its debt problems in order to get the still-vulnerable economy on a strong footing.