Crude Price Dropped on Nigeria News

Global crude prices fell Monday, as fears of a US recession continue to dominate trading and after unrest in key producer Nigeria, analysts said.

In the morning trade, New York's main futures contract, light sweet crude for delivery in February, dropped 26 cents to Rs 92.43 a barrel after closing down $1.02 a barrel in New York on Friday.

London's Brent crude for February closed $1.15 lower on Friday to settle at $91.07 per barrel.