Crude Fell Below $48

Crude prices fell Tuesday in Asia trading below $48 per barrel, as fears of possible OPEC production cuts smoothed, and dealers are waiting for U.S. petroleum stocks data on this week.

The benchmark crude oil futures March delivery fell 40 cents to settle at $47.80 a barrel on the New York Mercantile Exchange in mid-afternoon electronic trading in Asia. Meanwhile, London IPE Brent for March delivery was down 44 cents to $45.48 per barrel.