Oil prices were down in Asian trade today as the initial euphoria over the fiscal cliff deal in the United States faded. Caution returned to markets, with traders realising tough battles still lie ahead even after the last-minute deal struck by feuding Republican and Democrat lawmakers in the US Congress. New York's main contract, light sweet crude for delivery in February dropped 46 cents to 92.66 dollar a barrel and Brent North Sea crude for February delivery shed 41 cents to 112.06 dollar a barrel.