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Oil eases in Asia after overnight gains
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SINGAPORE (Commodity Online) : Global oil prices eased in Asian trade Tuesday, mainly on forecasts of increase in US crude inventories.

Light sweet crude for April delivery was seen trading at $81.41 a barrel at 11.30 a.m Singapore time while Brent crude was at $ 80.03 a barrel at the same time.

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Analysts said the black gold dropped as forecasts for growing U.S. crude inventories tempered bullish sentiment about the global economic recovery, which had driven prices to an eight-week high above $82 a day earlier.

A report on Friday showed U.S. unemployment is growing, although at a slower pace than expected. The country's crude inventories probably rose for a sixth straight week.

The industry-funded American Petroleum Institute (API) will publish inventory data on Tuesday, followed by government statistics from the Energy Information Administration on Wednesday.

The dollar, which for months has been inversely correlated with oil prices, edged up on Tuesday against a basket of currencies.

On Monday, oil prices struggled Monday to extend last week's rally as the euphoria of better-than-expected US jobs data faded.

New York's main contract, light sweet crude for delivery in April, rose 37 cents to close at $81.87 a barrel while Brent crude for April climbed 58 cents to settle at $80.47 a barrel.

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