(Fin24) - Oil prices eased further from the historic 100-dollar-a-barrel level on Monday on fears that energy demand in the United States could be hit by the weakness of the world's biggest economy, traders said.
New York's main contract, light sweet crude for delivery in February, fell 51c to $97.40/barrel in electronic deals.
It had struck a record high of $100.09 last Thursday.
On Monday, Brent North Sea crude for February eased 7c to $96.72/barrel. Last week it struck an historic peak of $98.50.
"Prices fall as weak economic data rekindle fears of recessions in the US," Barclays Capital analyst Kevin Norrish wrote in a note to clients.
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