Crude Price Gained, Japan Stocks Fell

Japanese stocks fell after crude oil futures climbed to $41.36, which raised concern that higher fuel costs will reduce consumer spending in their biggest markets.
The Nikkei 225 Stock Average shed 44.24, or 0.4 percent, to 11,240.80 as of 9:22 a.m. in Tokyo. The Topix index shed 3.73, or 0.3 percent, to 1140.58, with automakers and computer-related shares accounting for almost a third of its decline.
September crude rose for a third day to as high as $41.60 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Oil futures have closed above $40 per barrel for the past week, the longest stretch above that level since an eight-session run starting May 11.
Meanwhile, shares of oil explorers such as Nippon Oil Corp., Japan's largest refiner, gained 8 yen, or 1.2 percent, to 673. Teikoku Oil Co., the nation's second-largest oil explorer by market value, advanced 6 yen, or 1 percent, to 581.