September 16, 2013 1:01 PM

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Oil prices fall in Asian trade

Oil prices fell in Asian trade today after a US-Russia deal on Syria's chemical weapons averted a potential Western military strike on the Assad regime. New York's main contract, West Texas Intermediate for delivery in October eased 86 cents to 107.35 US Dollars in afternoon trade, while Brent North Sea crude for November declined 95 cents to 110.75 US Dollars.Oil prices hit multi-month highs in early September on concerns that the US would press ahead with a punitive military strike on Syria which analysts feared could lead to a wider conflict in the oil-rich Middle East.

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