Asian stock markets were mostly higher on Tuesday but record-high oil prices capped gains, while major currencies paused ahead of a U.S. Federal Reserve policy meeting and a key business confidence survey in Japan. European stock markets were expected to open slightly firmer. U.S. crude for August delivery touched a record $60.95 in U.S. trade, driven by strong global demand, refiners' capacity constraints and worries about Iran's oil policy under a new hard-line president. It dipped to $60.36 in Asia. "Oil prices look like they are more stable right now and this is a bit of a relief after two days of such sharp gains," said Park Suk-hyun, an analyst at Kyobo Securities. "Still, uncertainty about how oil prices will affect inflation or exports or consumer sentiment is still there." Share trading was subdued ahead of the 2-day Fed meeting that ends on Thursday. The Fed is expected to raise U.S. interest rates by another quarter of a point and investors are keen to see what it says about inflation and economic growth. Investors in Tokyo also have the Bank of Japan's quarterly "tankan" survey of business sentiment to contend with on Friday.