london -

World oil prices fell on Tuesday in cautious trade as investors sat on their hands before key interest rate decisions later this week in the eurozone and the US.

Brent North Sea crude for delivery in June dropped seven cents to $103.74 per barrel in early afternoon deals in London.

New York's main contract, light sweet crude for June, reversed 24 cents to $94.26. On Wednesday, the US Federal Reserve's policy setting Federal Open Market Committee (FOMC) will announce the outcome of its latest meeting, but is expected to maintain its monetary policy.