By Ga-Woon Philip Vahn Of DOW JONES NEWSWIRES SINGAPORE (Dow Jones)--Crude-oil futures fell sharply in Asia Thursday as weak Asian equities and a fall in the euro strengthened the rationale to short growth-sensitive assets like oil and commodities, while worries about euro-zone debt persisted. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at $91.01 a barrel at 0715 GMT, down $1.50 in the Globex electronic session. December Brent crude on London's ICE Futures exchange fell $1.37 to $107.97 a barrel. "Regional stock markets and the euro's weakness have been acting as a barometer of the level of risk aversion over the past several days, thus crude prices will continue to track equities and risk currencies lower," said a trader at Hyundai Oilbank in Seoul. Asian stock markets extended recent weakness, with Australia's S&P/ASX down 0.3%, South Korea's Kospi Composite down 1.5% and Hong Kong's Hang Seng Index 2.9% lower. Market participants said sentiment will likely stay cautious as investors fret over Greece's ability to secure a fresh round of aid, while supply conditions point to lower crude prices. "Austerity measures have been extremely unpopular in Greece, and they add a new measure of uncertainty to the overall picture," energy consultancy Cameron Hanover said in a note. "Growing Libyan oil supplies and a recent increase in U.S. oil stockpiles aren't going to support crude prices either," said a trader at GS Caltex's Mumbai office. Traders said there could be further downside for crude, though some bullish traders are pinning their hopes on the European Central Bank and leaders of the Group of 20 industrial and developing nations producing a new set of measures to restore global financial stability. "Surely global policymakers can do more to fix the ongoing eurozone debt problems and boost market confidence," the GS Caltex trader said. The vast majority of economists are expecting the ECB to keep rates unchanged at its policy meeting later in the global day and -- that being the case -- focus will be on what the bank's new chief Mario Draghi says about bond purchases, future easing and the bank's stance on Greece. Nymex reformulated gasoline blendstock for December--the benchmark gasoline contract--fell 372 points to $2.5900 a gallon, while December heating oil traded at $2.9765, 242 points lower. ICE gasoil for November changed hands at $940.50 a metric ton, down $20.75 from Wednesday's settlement. -By Ga-Woon Philip Vahn, Dow Jones Newswires; +65-64154149; philip.vahn@dowjones.com

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