Oil prices are falling after a two-day rise as traders eye mixed signs about the strength of the global economy.
Benchmark oil for May delivery gave up 80 cents to $US104.43 ($A100.66) a barrel in midday trading on the New York Mercantile Exchange. The contract rose $US2.21 to settle at $US105.23 per barrel on Monday.
In London, Brent crude was down nine cents at $US125.34 per barrel on the ICE Futures exchange.
Crude has traded near $105 a barrel since February as traders weigh an improving US economy against signs of weakening growth in Europe and China.
Prices were bolstered on Monday by a report that showed US industrial production grew in March at a faster pace than February while China said on the weekend that manufacturers also gained momentum in March. However, manufacturing data from France and Germany weakened, suggesting Europe will likely face a recession this year.