Oil prices fall below $30 a barrel

US crude prices fell below $30 a barrel for the first time in 12 years on Tuesday as OPEC member Nigeria called for an emergency meeting to address collapsing prices. New York's benchmark West Texas Intermediate (WTI) for February delivery fell to $29.93 a barrel, a level last seen in December 2003. Prices pulled back slightly at the end of trade to end 97 cents lower at $30.44 a barrel.