| GEO Business | | Oil prices fall in Asian trade | Updated at: 1120 PST, Friday, April 03, 2009
SINGAPORE: Oil fell in Asian trade Friday following a strong rally overnight as investors showed increased confidence after G20 leaders promised to work together to fight the global crisis, analysts said.
New York's main contract, light sweet crude for May delivery, was off 68 cents to $51.96 a barrel after closing in New York up $4.25.
Brent North Sea crude for May delivery dropped 63 cents to $52.12 a barrel after rocketing $4.31 on Thursday.
Leaders of the G20 agreed on a raft of measures to pull the global economy out of its current crisis, including a huge programme of new spending.
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