By Mari Iwata Of DOW JONES NEWSWIRES TOKYO (Dow Jones)--Crude-oil futures were moderately lower Tuesday in Asia, tracking declines in most regional equity markets, due to concerns about a flare-up of the euro-zone debt crisis. On the New York Mercantile Exchange, light, sweet crude futures for delivery in May traded at $102.75 a barrel at 0641 GMT, down $0.18 in the Globex electronic session. June Brent crude on London's ICE Futures exchange fell $0.55 to $118.13 a barrel. Market participants will likely to look to Spain's bond auctions later in the day and Thursday for cues, analysts said. "The European Union faces an important test at these planned auctions," Daiichi Shohin analyst Koichi Murakami said, pointing to weak demand for Spanish bonds in an auction earlier this month that triggered a sustained selloff of its debt in secondary markets. "If the results are poor both on Tuesday and Thursday, concerns about European economy will be rekindled," hurting demand for crude oil when demand has already weakened due to hopes of easing tensions between Iran and the West, Murakami said. Lingering economic uncertainty in Europe and the U.S., combined with apparent progress in talks over Iran's nuclear ambitions, may continue to weigh on oil prices, said Jim Ritterbusch, president of advisory firm Ritterbusch & Associates in a note. "As far as the crude benchmarks are concerned, long-term downside potential in West Texas Intermediate to the $94-95 area remains intact while June Brent appears headed for the $115 area on a short-term basis," Ritterbusch said. Nymex reformulated gasoline blendstock for May--the benchmark gasoline contract--fell 120 points to $3.2550 a gallon, while May heating oil traded at $3.1120, 46 points lower. ICE gasoil for May changed hands at $990.25 a metric ton, down $3.75 from Monday's settlement. -By Mari Iwata, Dow Jones Newswires; 813-6269-2798; mari.iwata@dowjones.com

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