Oil eases in Asian trade ahead of key US data

SINGAPORE, May 2 (AFP): Oil eased in Asian trade Monday ahead of the release of a slew of key US economic data, analysts said. The death of Al-Qaeda Chief Osama bin Laden, who was killed Sunday in a firefight with covert US forces in Pakistan, is not expected to have an impact on crude prices, they said. "I don't think that news should result in a clear direction on crude," said Ben Westmore, a Melbourne-based commodity economist with National Australia Bank. "It won't have big implications for crude markets," he told the news agency, adding key US economic data scheduled to be released this week will have more influence on the direction of crude futures. New York's main contract, light sweet crude for June delivery, was down $1.25 cents to $112.68 from New York's close and Brent North Sea crude for June eased 79 cents to $125.10. "Any data related to the US will be important," said Westmore. The US is the world's biggest oil consumer.