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World Fuel Services Corporation has announced that its board of directors has renewed the company's share repurchase program, authorizing the purchase of up to $100 million in common stock.

The board action replaces the previously announced September 2016 share repurchase authorization, which was also for the purchase of up to $100 million in common stock.

In a statement, World Fuel Services said: "Share repurchases may be made from time to time in the open market or through privately negotiated transactions. The timing and amount of shares to be repurchased under the program will depend on market conditions, share price, securities law and other legal requirements and factors. The program does not require the purchase of any minimum number of shares, has no expiration date and may be suspended or discontinued at any time without prior notice."