TOKYO, March 24 (Reuters) - Japan's Nikkei share average retreated from a nine-week high on Thursday, as crude oil's continued rise fuelled worries about inflation, while investors focussed on a gathering of Western leaders in Brussels that could see more sanctions on Russia.
Brent crude ticked up to $123.50, approaching the multi-year high near $130 reached earlier this month, as storm damage to pipelines near the Black Sea added to disruptions from the war in Ukraine and sanctions on Russia. Resources-poor Japan is dependent on imports for its energy needs.
Amid the climb in commodity prices, "you can't rule out a further weakening in investor sentiment," said a trader at a domestic securities firm.
Although with oil down from its peak, "for now at least, there doesn't seem to be a need to consider an extreme rise in prices from here," the trader said.
The Nikkei ended the morning session down 1.11% at 27,727.76, though off earlier lows when it lost as much as 1.48%, and was set to snap an eight-session winning streak. It had closed at its highest since Jan. 18 on Wednesday at 28,040.16.
Every sector declined except energy. Of the Nikkei's 225 component stocks, 191 fell, 31 rose, and three were flat.
The broader Topix shed 0.99% to 1,959.14.
Shippers were the top three losers on the Nikkei, with Kawasaki Kisen sliding 9.73%, Mitsui O.S.K. Lines off 8.11% and Nippon Yusen down 7.87%.
Construction machine maker Kubota was the next with a 3.64% drop, highlighting how poorly shippers fared on the day.
Uniqlo clothing store operator Fast Retailing was the biggest drag by index points, weakening 2.34%.
Pacific Metals was far and away the Nikkei's best performer, jumping 8.95%.
Toyota Motor was the biggest support by index points, rising 2.34% after announcing a share buyback worth 100 billion yen ($824.7 million) after market hours on Wednesday.
Toshiba added 0.92% as shareholders voted on its plan to spin off its devices business. (Reporting by Tokyo markets team; Editing by Subhranshu Sahu)
