Global oil prices rose Tuesday after Turkey shot down a Russian jet on the Syria border, sparking fresh tensions in the crude-rich Middle East, dealers said.

At about 1200 GMT, U.S. benchmark West Texas Intermediate for delivery in January added 38 cents at $42.13 a barrel.

Oil prices climbed in Asia Tuesday before a meeting of the OPEC oil cartel and a report on U.S. commercial crude inventories which will let traders gauge demand in the world's biggest oil consumer.

Analysts said the impact of comments by the Saudi Arabian oil minister, that his country was prepared to work with other oil producers to stabilize prices, was muted because there was no firm signal to slash production to ease the global glut.

Tokyo's benchmark stock index cast off earlier losses Tuesday as bargain hunting pushed it to a fresh three-month high.

The Nikkei 225 index at the Tokyo Stock Exchange rose 0.23 percent, or 45.08 points, to finish at 19,924.89, its highest since late August.

Audi said Monday it will spend about 50 million euros upgrading software that regulators believe flouts U.S. pollution limits in larger diesel cars in the U.S.

The upscale brand of embattled German auto giant Volkswagen said the repairs will cover auxiliary emission control devices (AECD) for V6 diesel 3.0-liter cars that the Environmental Protection Agency has since early November alleged violate U.S. emissions laws.

Russia's economy minister on Monday said the country has edged out of recession but the crisis-hit economy remains mired deep in trouble. 

"According to formal indicators the recession in the Russian economy has finished," minister Alexei Ulyukaev was quoted as saying by RIA Novosti news agency.

The dollar rose against the yen and emerging Asian currencies on Monday, boosted by a looming U.S. interest rate hike, but analysts said liquidity will be thin ahead of the Thanksgiving holiday.

Mounting expectations the U.S. will raise interest rates for the first time in almost a decade next month have driven the greenback higher.

Hong Kong stocks clawed back early gains to trade flat by the break on Monday, while Shanghai shrugged off concerns about the re-starting of IPOs to push higher.

The benchmark Hang Seng Index edged down 6.09 points, to 22,748.63, by the break.

Berlin luxury department store KaDeWe said Sunday that it would resume selling Israeli wines it had pulled from its shelves over new EU labeling guidelines for products from Jewish settlements.

The decision to stop carrying the wines, reported Friday in the German media, had sparked fury in Israel, with Prime Minister Benjamin Netanyahu blasting a "boycott" by the German company.

Britain is to increase its counter-terrorism funding by 30 percent in the wake of the Paris attacks, finance minister George Osborne said Sunday.

The chancellor of the exchequer would not rule out cuts to frontline police numbers but said he was confident Britain would be able to deal with a major terror assault.

Lackluster earnings reports from retailers have raised questions about whether the 2015 holiday shopping season will bring as much of a boost to the U.S. economy as hoped.

Apparel giant Gap and kitchen and home furnishings chain Williams-Sonoma late this week became the latest big U.S. retailers to slash their profit forecast for the critical December quarter.