SINGAPORE — Oil prices fell slightly to below $105 a barrel today in Asia after surging the previous day on signs of improving economic growth in U.S. and China.

Benchmark oil for May delivery was down 37 cents to $104.86 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $2.21 to settle at $105.23 per barrel in New York on Monday.

Brent crude for May delivery was down 37 cents at $125.06 per barrel in London.

Crude has traded near $105 a barrel since February as traders weigh an improving U.S. economy against signs of weakening growth in Europe and China.

Prices were bolstered Monday by a report that showed U.S. industrial production grew in March at a faster pace than February.