Posted AT 2:09 PM EDT on 21/01/08
Oil falls below $90
VIENNA — Oil prices fell sharply Monday as fears over the U.S. economy drove down stock markets in Asia and Europe.
Further pressure came from concerns OPEC won't raise crude production levels.
Light, sweet crude for February delivery fell $1.63 to $88.94 (U.S.) a barrel in electronic trading on the New York Mercantile Exchange by the afternoon in Europe. The contract rose 44 cents to settle at $90.57 a barrel on Friday.
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