Oil prices slip
AFP, Singapore
Oil prices slipped in Asian trade Tuesday as speculative buying eased and the marked turned its focus to an anticipated build in US crude oil inventories, dealers said. At 3:45 pm (0745 GMT), New York's main contract, light sweet crude for delivery in June, was down 34 cents to 50.58 dollars a barrel after closing at 50.92 dollars in New York on Monday. Buying from hedge funds and commercial investors late Monday had pushed prices up $1.20 after they fell sharply to slip under the psychological $50 mark late last week.
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