Oil prices fell below $88 a barrel Wednesday in Asia, the Associated Press reported. Benchmark oil for January delivery was down 77 cents to $87.51 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract lost 33 cents to settle at $88.28 on Tuesday. In other Nymex trading in January contracts, heating oil fell 0.9 cent to $2.46 a gallon, gasoline futures dropped 0.8 cent to $2.29 a gallon and natural gas slid 1 cent to $4.25 per 1,000 cubic feet. In London, Brent crude fell 56 cents to $90.65 a barrel on the ICE Futures exchange.
