Oil prices fall

Published December 5, 2012

LONDON, Dec 4: Crude prices fell on Tuesday after data showed the US manufacturing activity contracted last month, while dealers grow concerned at the lack of progress on a deal to avert the fiscal cliff.Brent North Sea crude for January dropped $1.04 to $109.88 per barrel in London early afternoon deals. New York’s main contract, light sweet crude for delivery in January, shed 72 cents to $88.37 a barrel.—AFP