Brent oil price falls for second day on doubts over demand

Brent crude oil futures fell for a second day as higher US fuel stockpiles raised concern that gains in oil prices may have outpaced the recovery in the global economy.

Brent crude oil futures for October settlement fell as much as 98 cents, or 1.5 percent, to $66.71 a barrel on the London based ICE Futures Europe exchange. The contract traded at $66.75 at 2:35 p.m. Singapore time. It dropped 3.1 percent to $67.69 on Sept. 11, the biggest decline since Aug. 31.

Oil has gained 53 percent this year as rising equities and a weaker dollar bolstered investment in commodities. The US dollar was little changed after trading last week at its lowest since December.

Tags:  brent oil price, demand