Oil hovers below $105 in light May Day trading

Oil   Oil

SINGAPORE (AP) — Oil prices hovered below $105 a barrel Tuesday in Asia for a second day amid light trading volume because of the May Day holiday.

Benchmark oil for June delivery was down 9 cents to $104.78 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost 6 cents to settle at $104.87 in New York on Monday.

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