Oil falls below $91 due to demand fears

SINGAPORE (AP) - Oil prices have fallen below US$91 a barrel in Asia on fears a U.S.-led financial crisis is spreading across the globe, exacerbating an economic slowdown that will cut crude demand.

Light, sweet crude for November delivery was down US$3.16 to US$90.72 a barrel in electronic trading on the New York Mercantile Exchange by mid-afternoon Monday in Singapore.

On Friday, the contract dipped 9 cents settle at US$93.88 a barrel.

In other Nymex trading, heating oil futures fell 6.92 cents to US$2.60 a gallon, while gasoline prices dropped 5.68 cents to US$2.17 a gallon. Natural gas for November delivery fell 13.1 cents to US$7.23 per 1,000 cubic feet.

In London, November Brent crude fell US$3.09 to US$87.15 a barrel on the ICE Futures exchange.