Asian stocks lower as latest Greece bailout talks falter

SEOUL, South Korea (AP) — Asian stock markets were lower Thursday as negotiations to keep Greece from defaulting dragged on without result, dimming hopes of a deal this week.

Crucial talks between Greece and its international creditors ended without result early Thursday, casting fresh doubt over the country's future in the euro currency and piling new pressure on negotiators to reach a deal later in the day.

ANALYST'S TAKE: "Traders who thought that a bailout deal for Greece will be smooth sailing after Monday's meeting are now having second thoughts," said Bernard Aw, a market strategist at IG.

The contract fell 74 cents to close at $60.27 a barrel on Wednesday after the Energy Department reported an increase in stockpiles of gasoline and diesel in its weekly inventory report.