US crude futures fell more than 2 percent in early Asian trade on Wednesday, after a tumbling dollar had pushed up prices by about 19 percent over the last four sessions.
Oil markets have rebounded in recent days as some investors become more confident that oil prices have hit bottom after a seven-month rout that had prompted major energy companies to slash spending on new production.
The contract had settled at $53.05 a barrel on Tuesday, up 7 percent on the day, and was trading more than $10 higher than a near six-year low reached last week.
The dollar fell about 1 per cent against a basket of currencies on Tuesday, its biggest daily drop since October 2013, boosting the value of dollar-denominated commodities.
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