Oil falls below $69 in Asia
OPEC doesn't plan output cut at meeting next week
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Singapore: Oil prices fell below $69 a barrel Monday in Asia amid signs OPEC doesn't plan to cut crude output when it meets next week.
Benchmark crude for January delivery was down $1.10 to $68.77 at midday Singapore time in electronic trading on the New York Mercantile Exchange. On Friday, the contract gave up 67 cents to settle at $69.87.
In other Nymex trading in January contracts, heating oil rose 1.20 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 68 cents to $71.20 on the ICE Futures exchange.
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