| GEO Business | | Oil prices fall in Asian trade | Updated at: 1018 PST, Tuesday, January 12, 2010
SINGAPORE: Oil prices fell below $82 a barrel Tuesday in Asia on expectations a frigid cold spell in parts of the U.S., Europe and Asia will ease in coming weeks, weakening crude demand.
Benchmark crude for February delivery was down 61 cents to $81.92a barrel at midday Singapore time in electronic trading on the NewYork Mercantile Exchange. On Monday, a weakening U.S. dollar helped push the contract to a15-month high near $84 a barrel before it settled down 23 cents at$82.52.
Crude prices have jumped from $69 a barrel a month ago as cold winter weather, especially in the U.S. Northeast, boosted demand for oil products such as heating oil.
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