| GEO Business|
| Oil falls in Asian trade|
| Updated at: 1128 PST, Monday, December 14, 2009|
SINGAPORE: Oil prices fell below $69 a barrel Monday in Asia amid signs OPEC won't cut crude output when it meets next week.
Benchmark crude for January delivery was down 55 cents to $69.32at midday Singapore time in electronic trading on the New York Mercantile Exchange after falling as low at $68.59. On Friday, the contract gave up 67 cents to settle at $69.87.
In other Nymex trading in January contracts, heating oil rose1.20 cents to $1.91 while gasoline gained 1.61 cents to $1.85.Natural gas fell 12.8 cents to $5.29 per 1,000 cubic feet. In London, Brent crude for January delivery dropped 18 cents to$71.70 on the ICE Futures exchange.