Crude prices fell in Asia Tuesday after data showed US manufacturing activity contracted last month, while dealers grow concerned at the lack of progress on a deal to avert the fiscal cliff. New York’s main contract, light sweet crude for delivery in January delivery fell 18 cents to $88.91 a barrel and Brent North Sea crude for January shed 14 cents to $110.78. “On the energy markets, oil continued to edge down on the disappointing US” data, IG Markets said in a report. “Last night traders suffered the double whammy of weak US economic data combined with another impasse in budget talks as Democrats rejected the latest Republican proposal.”
Oil prices fall on US data, fiscal cliff woes
