30/05/2012 08:25 AST

Oil prices fell to near $90 a barrel Wednesday in Asia amid expectations Europe's sputtering economy will drag on global crude demand.

Benchmark oil for July delivery was down 38 cents to $90.38 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 10 cents to settle at $90.76 in New York on Tuesday.

Brent crude for July delivery was down 31 cents at $106.37 per barrel in London.

Crude has plunged 15 percent from four weeks ago on investor fears that political turmoil in Greece could trigger a chaotic exit of that country from the euro common currency.

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The Economic Times

Ticker Price Volume
(In US Dollar) Change Change(%)
Brent 68.51 -0.34 -0.49
WTI 67.17 -0.33 -0.49
OPEC Basket 69.85 0.06 0.09
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