Oil prices fall in Asian trade Updated at: 1309 PST, Tuesday, October 28, 2008SINGAPORE: World oil prices fell in Asian trade Tuesday on concerns a global recession will hurt energy demand, dealers said.
New York's main contract, light sweet crude for December delivery fell 89 cents to 62.33 dollars a barrel. In Monday trades, the New York contract dipped to 61.30 dollars at one point, a level last seen in May 2007.
Brent North Sea crude for December delivery dropped 1.28 dollars to 60.13 dollars. The contract sank below the 60-dollar level Monday to as low as 59.02 dollars, its lowest point since February 2007.
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