SINGAPORE, March 23: Oil prices fell in Asian trade today 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 57 cents at $46.00 and Brent tumbled 43 cents to $54.89.
Daniel Ang, an investment analyst with Phillip Futures in Singapore, said it was "the same fundamental issue of supply and demand" affecting the market.
"Oil prices are falling because of the bearish sentiment that people have towards oil right now," he said.    ?AFP