If you want to have a loosely coupled API that can be used from other interfaces and / or services, OAuth is definitely a way, in my opinion. It can also save you a lot of headaches in a cross-domain domain (IE9 does not allow cookies, authentication, etc., for example, to include in cross-domain requests).
If you are absolutely sure that this will be your own interface, I would consider placing the API in the same web application that would solve authentication using the same interface as the external interface.
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