Singapore - Oil prices fell in Asian trade Monday after Saudi Arabia said it was pumping more oil, exacerbating a global supply glut, analysts said.
US benchmark West Texas Intermediate for May delivery was down 65 cents at $45.92 and Brent tumbled 58c to $54.74.
Daniel Ang, an investment analyst with Phillip Futures in Singapore, said it was "the same fundamental issue of supply and demand" affecting the market.