World oil prices slipped briefly beneath 90 dollars a barrel on Tuesday amid growing economic gloom and fears of slowing energy demand.
The price of crude oil has now fallen by almost 40 percent since striking record highs above 147 dollars per barrel in July.
London's Brent North Sea crude for delivery in November tumbled as low as 89.80 dollars per barrel in Asian trading. The new contract later stood at 91.22, down 3.02 dollars. The October contract had expired Monday at 92.38.
Elsewhere on Tuesday, New York's main contract, light sweet crude for October delivery, dived 2.93 dollars to 92.78 dollars a barrel.
Oil prices had plunged by more than five dollars on Monday amid global market jitters after Wall Street investment bank Lehman Brothers collapsed and financial developments stoked concerns about the health of the US economy.
Author: Jo Amey
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Oil prices briefly slip under $90
World oil prices slipped briefly beneath 90 dollars a barrel on Tuesday amid growing economic gloom and fears of slowing energy demand
