SINGAPORE: Oil fell in Asian trade Wednesday as hopes faded for a fresh dose of monetary stimulus from the US Federal Reserve, analysts said.
New York's main contract, West Texas Intermediate crude for delivery in May, shed 30 cents to $103.71 per barrel. Brent North Sea crude for May settlement was down 42 cents at $124.44 in morning trade.
"Oil fell... as caution over lacklustre demand growth and fading expectations for more monetary stimulus from the US central bank countered concerns about potential supply disruptions," Phillip Futures commented.