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MUMBAI: World oil prices traded below $102 in Asian trade on Tuesday after falling more than four dollars in New York on concerns about slowing energy demand in the US, and a decline in Iraqi militia violence.

In morning trade, New York's main oil contract, light sweet crude for delivery in May, fell 18 cents to $101.40 per barrel. The contract tumbled $4.04 to close at $101.58 per barrel during floor trading yesterday at the New York Mercantile Exchange. Bre nt North Sea crude for May traded steady, down one cent at $100.29 a barrel, after settling at $100.30 in London yesterday.

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