New York, Feb 11: World oil prices fell from 26-month highs Monday, weakened by deep international divisions over a possible war on Iraq but still supported by a shortage of heating oil in the United States. US light crude was 64 cents weaker at $34.48 a barrel, after hitting a peak in overnight trade of $35.38, the highest level since November 2000. London Brent crude was down 66 cents at $31.68, after reaching a 26-month high of $32.70.
While oil markets remained convinced that there will be a US-led attack on Iraq, deep divisions over the possible use of force have emerged that could delay any military action, leading some oil dealers to sell off positions.

France, Germany and Belgium on Monday split the North Atlantic Treaty Organization by blocking a plan to boost Turkish defenses in case of a US-led war on Iraq, signaling their opposition to a hasty attack. Bureau Report