<p>Oil prices eased in early Asian trade on Thursday after weak US job openings data signalled cooling economic conditions which may hit demand.</p>.<p>West Texas Intermediate US crude was down 14 cents to $80.47 a barrel at 2241 GMT. On Wednesday, Brent crude futures settled up 5 cents, or 0.1 per cent, at $84.99 a barrel.</p>.<p>Prices jumped by more than 6 per cent on Monday after the Organization of the Petroleum Exporting Countries and allies including Russia, collectively known as OPEC+, pledged voluntary production cuts.</p>.<p>Yet US job openings in February dropped to the lowest level in nearly two years, suggesting that the labour market was cooling. The data offset market's reaction to earlier OPEC+ cuts and the recent reduction of US crude and fuel stockpiles.</p>.<p>"Crude oil's rally paused as it battled the headwinds created by the weak economic data. This offset more positive fundamentals", ANZ Research said in a note.</p>.<p>On a support side, Saudi Arabia, the world's top oil exporter, has raised the prices of its flagship crude for Asian buyers for the third straight month.</p>.<p>"This points to further strength in demand in the region," ANZ Research added.</p>.<p>US crude inventories fell 3.7 million barrels last week, about 1.5 million barrels more than forecast, government data showed.</p>.<p>Gasoline and distillate stocks also fell more than expected, drawing down by 4.1 million barrels and 3.6 million barrels, respectively.</p>
<p>Oil prices eased in early Asian trade on Thursday after weak US job openings data signalled cooling economic conditions which may hit demand.</p>.<p>West Texas Intermediate US crude was down 14 cents to $80.47 a barrel at 2241 GMT. On Wednesday, Brent crude futures settled up 5 cents, or 0.1 per cent, at $84.99 a barrel.</p>.<p>Prices jumped by more than 6 per cent on Monday after the Organization of the Petroleum Exporting Countries and allies including Russia, collectively known as OPEC+, pledged voluntary production cuts.</p>.<p>Yet US job openings in February dropped to the lowest level in nearly two years, suggesting that the labour market was cooling. The data offset market's reaction to earlier OPEC+ cuts and the recent reduction of US crude and fuel stockpiles.</p>.<p>"Crude oil's rally paused as it battled the headwinds created by the weak economic data. This offset more positive fundamentals", ANZ Research said in a note.</p>.<p>On a support side, Saudi Arabia, the world's top oil exporter, has raised the prices of its flagship crude for Asian buyers for the third straight month.</p>.<p>"This points to further strength in demand in the region," ANZ Research added.</p>.<p>US crude inventories fell 3.7 million barrels last week, about 1.5 million barrels more than forecast, government data showed.</p>.<p>Gasoline and distillate stocks also fell more than expected, drawing down by 4.1 million barrels and 3.6 million barrels, respectively.</p>