Oil falls below $104 on bailout concerns

Oil falls below $104 on bailout concerns --September 29, 2008 Oil prices fell Monday in Asia to below $106 a barrel on concern that economic growth will slow across the globe despite a tentative agreement in Washington on a $700 billion bailout package to stabilize the U.S. financial system. Light sweet crude for November delivery was down $1.67 to $105.22 a barrel in electronic trading on the New York Mercantile Exchange by mid afternoon in Singapore. The contract fell Friday $1.13 to settle at $106.89. In other NYMEX trading, heating oil futures fell 2.59 cents to $2.969 a gallon, while gasoline prices dropped 2.14 cents to $2.6437 a gallon. Natural gas for October delivery fell 8.1 cents to $7.547 per 1,000 cubic feet. In London, November Brent crude fell $1.52 to $102.02 a barrel on the ICE Futures exchange