NEW YORK: World oil prices nearly lost a dollar in early trade Monday and were trading below $105 a barrel at the New York Mercantile Exchange.
The continuing speculation about a slowing US economic growth may trim demand in the world's biggest energy user.
Crude oil for May delivery fell as much as 98 US cents, or 0.9%, to $US104.64 a barrel and was trading at $US104.75 a barrel in after hours electronic trading on the New York Mercantile Exchange.
The contract fell 1.8% to $US105.62 on March 28 after Iraq restored exports through its Basra terminal. Prices jumped as high as $US108.22 the day before after an explosion and fire threatened pipelines to the terminal.
Brent crude for May settlement fell 41 US cents, or 0.4%, to $US103.36 in after hours trading on London's ICE Futures Europe exchange at 9.13am in Sydney. The contract fell 1.2% to $US103.77 on March 28.