BANGKOK - Oil prices fell below US$95 on Wednesday as ample supplies caused energy investors to pull back. Benchmark oil for July delivery fell 85 cents to $94.53 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 39 cents to close at $95.38 per barrel on the Nymex on Tuesday. On Tuesday, oil prices were pressured by OPEC's disclosure that its members boosted production by 106,000 barrels a day in May. Some experts feel the world already has an ample supply to meet current demand.

Oil prices were down in Asia on Tuesday after downbeat Chinese data highlighted concerns about slowing growth in the world's second largest economy. New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July, dropped 11 cents to $95.66 a barrel in the afternoon. Brent North Sea crude for July delivery shed 29 cents to $103.66. "A lot of data has come out over the weekend. Dealers are trying to get their heads around China and its import and export data," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP.

Oil prices fell on Monday in the wake of poorly-received Chinese economic data which offset positive US jobs numbers, analysts said. The price of Brent North Sea crude for delivery in July dropped 30 cents to $104.26 a barrel in London midday deals. New York's main contract, West Texas Intermediate for July, slipped 33 cents to $95.70 a barrel. "We attribute the current price weakness to disappointing data from China which were published at the weekend," said Commerzbank analyst Carsten Fritsch.

BANGKOK - The price of oil rose slightly Monday, extending gains posted late last week on the heels of a positive U.S. employment report. Benchmark oil for July delivery rose 5 cents to US$96.08 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract for benchmark crude rose $1.27 to close at $96.03 a barrel on the Nymex on Friday.