World Oil Prices Take Breather But Uptrend Likely To Continue.

Oil fell in Asia today as investors took a breather from a recent price rally spurred by the international energy agency's forecast that the crude oversupply would shrink dramatically later this year.

US benchmark West Texas intermediate for June delivery was down 44 cents at 46.26 dollars and Brent Crude for July fell 29 cents at 47.79 dollars a barrel.