Crude prices decline in early Asian trade

Global economy concerns were weighing down the sentiments|

Crude prices have declined in the early Asian trade on Monday ahead of a European finance ministers meet later in the day, where they will formally launch a 500-billion-euro rescue fund for the embattled eurozone and as concerns over the global economy offset support from an unexpected drop in US unemployment.

Benchmark crude for November delivery declined by 25 cents to $89.63 a barrel on the New York Mercantile Exchange. In London, Brent crude for November was lower by 32 cents to $111.70 a barrel on the ICE.