Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 597 Wed. February 01, 2006  
   
Business


Oil prices fall


Oil prices skidded lower in Asian trade Tuesday as OPEC oil ministers were expected to keep current production ceilings, snubbing a call by Iran to cut output, dealers said.

The release on Monday of four foreign oil workers held hostage in Nigeria and expectations of a build in US energy inventories helped ease prices, but dealers said the market remains generally on an uptrend.