Oil at $70 in Asia

Oil prices extended losses in Asian trade Saturday in wake of 19 percent decrease in the commodity in the international markets. Crude oil was at $86 early this month but today it stood at $70 with a decrease of 17dollars. The market was hampered by falling shares in the United States and Asia and the ongoing European crunch, said analysts. On the other hand, oil prices are not down in consonance with the international prices.