December 19, 2006	Tuesday	Ziqa'ad 27, 1427

LONDON, Dec 18: World oil prices fell below $63 on Monday as Opec forecast the possibility of lower demand next year, but losses were limited by explosions at oil facilities in major crude producer Nigeria, dealers said.

New York's main contract, light sweet crude for delivery in January, shed 78 cents to $62.65 per barrel in pit trading.

In London, Brent North Sea crude for February delivery slumped 98 cents to $62.51 in electronic deals.

Crude futures had soared by 3.6 per cent in London and 4.3 per cent in New York over last Wednesday and Friday, owing to a drop in US energy stockpiles and Opec's move to cut output further.—AFP