Oil prices fell in Asia Tuesday as data showed global supplies were rising, while traders are also keeping an eye on talks between major powers and Iran over Tehran's nuclear program, analysts said.

New York's main contract, West Texas Intermediate (WTI) for December delivery, was down 13 cents at $92.90 in late morning trade while Brent North Sea crude for January slipped 47 cents to $108.00.

Arab and African leaders are to start a two-day summit in Kuwait on Tuesday to review steps to promote economic ties between wealthy Gulf states and investment-thirsty Africa.

It will be the first meeting of its kind since 2010, when leaders met in Libya prior to the Arab Spring uprisings that toppled longstanding dictatorships in North Africa and the Middle East.

Too many European banks survived the financial crisis, the head of Europe's banking regulator said in a newspaper interview on Monday.

"I'm convinced that too few European banks were dismantled and disappeared from the market," European Banking Authority (EBA) chief Andrea Enria told the daily Frankfurter Allgemeine Zeitung in an interview.

Britain's state-rescued Lloyds Banking Group has agreed to sell its asset management business Scottish Widows Investment Partnership Group to Aberdeen Asset Management for up to £660 million, it said on Monday.

The sale, worth the equivalent of $1.06 billion or 789 million euros in shares and cash, does not include Scottish Widows, the group's core life, pensions and investment business, Lloyds said in a statement.

Qantas chief executive Alan Joyce has demanded the government halt what he described as a "virtual takeover" of Virgin Australia by foreign airlines, saying they were working to destabilize the national carrier.

Singapore Airlines, Air New Zealand and Abu Dhabi-based Etihad already own 63 percent of Qantas' main domestic rival and under a Aus$350 million (U.S.$328 million) capital raising announced last week, that could increase to as much as 72 percent.

Oil prices dipped in Asian trade Monday on profit-taking and ahead of fresh international talks on Iran's nuclear program, analysts said.

New York's main contract, West Texas Intermediate for delivery in December, fell 31 cents to $93.53, while Brent North Sea crude for January was also down 31 cents at $108.19.

Arab and African foreign ministers met in Kuwait on Sunday hoping to accelerate a strategy to bolster economic cooperation, investment and trade ahead of a summit this week.

The Third Africa Arab Summit on Tuesday and Wednesday will be the first meeting of its kind since 2010, when leaders met in Libya prior to the Arab Spring uprisings that toppled longstanding dictatorships there and elsewhere in North Africa and the Middle East.

U.S. aerospace giant Boeing said Saturday it holds nearly 40 percent of the lucrative sales market in the Middle East and aims to increase its share.

"Today we probably have close to 40 percent" of the Middle East market, compared with 60 percent for European competitor Airbus, said Marty Bentrott, a regional sales chief for Boeing.

Berber protesters have ended their occupation of a gas terminal in western Libya that prompted the shutdown of an export pipeline to Italy, Libya's National Oil Company said on Saturday.

The protesters called off their more than two-week sit-in at the Mellitah terminal near Zwara, west of Tripoli, late on Friday but it will take longer to reopen the pipeline, NOC spokesman Mohamed al-Harairi told Agence France Presse.

EU finance ministers narrowed Friday some of their differences over "Banking Union", a new framework meant to prevent a repetition of the financial meltdown that plunged Europe into crisis.

But ministers scaled back initial plans to hammer away at a still long list of obstacles deep into the night, leaving the clock ticking on much-needed compromises if EU leaders' timetable is to be respected.