AbstractThe Muskat, or Muskat‐Leibenzon, problem describes the evolution of the interface between two immiscible fluids in a porous medium or Hele‐Shaw cell under applied pressure gradients or fluid injection/extraction. In contrast to the Hele‐Shaw problem (the one‐phase version of the Muskat problem), there are few nontrivial exact solutions or analytic results for the Muskat problem. For the stable, forward Muskat problem, in which the higher‐viscosity fluid expands into the lower‐viscosity fluid, we show global‐in‐time existence for initial data that is a small perturbation of a flat interface. The initial data in this result may contain weak (e.g., curvature) singularities. For the unstable, backward problem, in which the higher‐viscosity fluid contracts, we construct singular solutions that start off with smooth initial data but develop a point of infinite curvature at finite time. © 2004 Wiley Periodicals, Inc.