Oil below $52

Oil prices fell to below $52 a barrel Monday in Asia after the International Energy Agency said it expects global crude demand to drop this year amid the worst worldwide recession in decades.
Benchmark crude for May delivery fell 77 cents to $51.47 a barrel by late afternoon in Singapore in electronic trading on the New York Mercantile Exchange.
The contract on Thursday rose $2.86 to settle at $52.24 a barrel.