Oil prices slide

Oil prices lost ground on Tuesday as caution set in before the release of US economic and stockpiles data, analysts said. New York's main contract, West Texas Intermediate (WTI) for delivery in April, sank 97 cents to $101.85 per barrel. Brent North Sea crude for April slid 40 cents to stand at $110.24 in London midday deals. "Lack of strong supportive news contributed to some downside in crude oil," Tan Chee Tat, investment analyst at Singapore-based Phillip Futures, told the news agency. Tan said investors were wary that they could be in an "overbought situation" as the winter season in the West wanes and demand dips. Prices could also come under pressure as stockpiles begin to surge due to the upcoming summer maintenance season in US and North Sea refineries, according to AFP.