Oil eases in Asian trade

SINGAPORE: Crude prices were hovering below 74 dollars in Asian trade Tuesday as oil markets eased off 10-month highs, driven by a strengthening US dollar and dips in Asian equity markets, analysts said. New York's main contract, light sweet crude for October delivery, was down 39 cents to 73.98 dollars a barrel in morning trade. Brent North Sea crude for October delivery was down 27 cents to 73.92 dollars. Japanese share prices fell 0.78 percent in morning trade as investors took profits a day after a strong rally driven by mounting optimism on the global economic picture. Crude prices continued to fall after a pre-weekend surge last week and Shum warned that the market would remain fickle in the near term.