May 3, 2011 10:54 AM

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Oil prices down in Asian trade today

Oil eased in Asian trade today as traders digested news of Osama bin Laden's death, but prices look set to be tied to the Arab world unrest and the dollar's value in the long run, analysts said. New York's main contract, light sweet crude for June delivery, was down 59 cents to 112.93 US Dollars and Brent North Sea crude for June eased 68 cents to 124.44 US Dollars.

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