Oil eases in Asian trade ahead of key US data

Oil eased in Asian trade today ahead of the release of a slew of key US economic data, analysts said.

New York's main contract, light sweet crude for June delivery was down 68 cents to $113.25 from New York's close and Brent North Sea crude for June eased 43 cents to $125.46.

"Any data related to the US will be important," said Ben Westmore, a Melbourne-based commodity economist with National Australia Bank.

"I think around current levels, we will see slight easing but we will see nothing dramatic," he told AFP.

Non-farm payroll figures for April due out on Friday are among the US data expected to be released this week and will be keenly watched by analysts for clues on the state of the world's biggest economy.

"On Friday, we have April payroll data which will be the one to watch and will have an impact (on crude oil futures)," said Westmore.

Westmore said prices also eased off as investors digested data released Friday that showed US consumer spending slowed in March despite a slight rise in income.

The commerce department said Friday US consumer spending rose a seasonally adjusted 0.6% after an upwardly revised rise of 0.9% in February. Consumer spending is a key driver of the US economy.