Asian shares skid

TOKYO: Tumbling crude oil futures knocked Asian shares on Monday after producers' talks failed to agree on a plan to curb the global supply glut, while Tokyo stocks skidded as investors assessed the impact of a devastating earthquake in southwestern Japan.

The gloom was expected to spread to European bourses, with financial spreadbetter IG predicting Britain's FTSE 100 would open 0.9 percent lower and Germany's DAX was seen opening down 0.8 percent.

Some 18 oil exporting nations, including OPEC members, had gathered in Doha, the capital of Qatar, over the weekend in an attempt to agree to stabilize output at January levels until October 2016.

The pact fell apart after Saudi Arabia demanded that Iran join in.  Brent crude futures tumbled about 4.2 percent to $41.31, while U.S. crude  slid about 4.4 percent to $38.59.

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.8 percent lower, pulling away from a five-month intraday high touched on Friday.