SINGAPORE: World oil prices fell almost two dollars in Asian trades Monday on demand worries as Wall Street's financial meltdown extended to Europe, triggering fears of a global slowdown, dealers said.

New York's main contract, light sweet crude for November delivery, sank 1.92 dollars to 91.96 dollars a barrel. Brent North Sea crude for November fell 1.75 dollars to 88.50 from 90.25 on Friday in London.

"I think it's just sort of continuing the steepening gloom you are seeing," said Jason Feer, vice president of energy market analysts Argus Media in Singapore. He said that in the absence of weather or political factors to influence oil prices, investors "are concerned about the economic issues".