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Oil dips in Asia amid swine flu scare

Crude prices continued to decline during Asian trade today amid worries that an outbreak of swine flu globally would hurt air travel, thereby reducing oil demand, analysts said.

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Crude prices continued to decline during Asian trade today amid worries that an outbreak of swine flu globally would hurt air travel, thereby reducing oil demand, analysts said.

New York's main contract, light sweet crude for June delivery, dropped 20 cents to USD 49.94 a barrel.

Brent North Sea crude for June delivery was off six cents to USD 50.26. "Concerns that the outbreak of swine flu may discourage air travel were a negative for the oil price," said David Moore, a commodity analyst with the Commonwealth Bank of Australia in Sydney.

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