Oil falls below $80 in Asian trade

Updated on

13 Jan 10, 00:00:00 PKT

Summary

Oil prices dropped in Asian trade Wednesday mainly on decrease in US demand. Light sweet crude for February delivery was seen trading at $79.90 a barrel down 79 cents, while Brent crude was at $78.26 a barrel down 84 cents. Oil prices would fall more in world as there would be increase in the petroleum reserves is expected, analyst says.