October 4, 2010 10:46 AM

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Oil prices down in Asian trade

Oil prices were down in Asian trade on Monday. New York's light sweet crude lost six cents to 81.52 dollars a barrel while Brent North Sea crude eased a cent to 83.74 dollars a barrel. Analysts said oil prices were taking a break from gains made last week but would continue climbing in the near term. They said strong Chinese manufacturing data and fears of a weakening dollar due to a possible US Federal Reserve intervention will push crude markets up in the near term.

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