Oil Prices below $82 in Asia

World oil prices advanced further in Asian trade Tuesday after dollar weakness boosted commodities amid easing pressure over economic concerns US crude for November delivery was seen trading at $81.71 a barrel at 1.00pm Singapore time while London’s Brent crude was at $105.07 a barrel on the ICE Exchange. Analysts attributed oil’s recovery to easing pressures over euro zone debt crisis after Euro zone central banks are hopeful to find a way out from the debt crisis and also to a weaker dollar that sparked buying of dollar-denominated assets. They however added that markets are still vulnerable as details about the rescue plan are not available and investors remained clueless to what happening in Europe. Both US and London prices suffered heavy losses last week with a fall of 7 and 9 percent respectively. On Monday, prices remained on the lower side as markets remained on edge over the eurozone crisis. New York''s main contract, West Texas Intermediate (WTI) for November delivery gained 39 cents to $80.24. In London, Brent North Sea crude for November ended off three cents at $103.94. Earlier Monday, the contract slid more than two dollars to a one-month low of $101.66.