SINGAPORE (Commodity Online) : Global oil prices eased in Asian trade Tuesday after overnight gains on weak dollar against the euro.
Spot gold was seen trading at $81.48 a barrel at 11.30 a.m Singapore time while Brent crude was at $80.42 a barrel at the same time.
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Analysts said the black gold surrendering some of the previous day's gains, as sentiment was pressured by a firm dollar and caution ahead of a EU summit to discuss Greece's debt woes.
On Monday, spot gold closed at $81.60 a barrel while April delivery contract expired on, settling up 57 cents at $81.25 a barrel while Brent crude for May gained 66 cents to close at $80.54 a barrel.
The American Petroleum Institute (API) will unveil its weekly inventory report later Tuesday.
The New York contract had fallen under $80 early Monday as the dollar rallied as European leaders came under pressure to resolve the Greek debt crisis at a summit in Brussels later this week.
But prices recovered as the greenback lost steam against the euro despite the widespread uncertainty over the outcome of the crisis in Greece's public finances that has rocked confidence in Europe.
