Oil prices fell to a 14-month low Thursday in Asia as bad U.S. economic news heighten fears that a significant global economic slowdown will undermine demand for crude. Light, sweet crude for November delivery was down US$1.29 to US$73.25 a barrel in electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract fell overnight US$4.09 to settle at US$74.54, the lowest settlement price since Aug. 31, 2007. The market is just very worried about a severe international economic downturn,'' said David Moore, commodity strategist at Commonwealth Bank of Australia in Sydney. They're thinking that oil consumption will be weaker than expected.''