Brent Oil Falls Back to $110 on Stockpile Fears

U.S. crude oil fell nearly $1 per barrel on Tuesday, on expectations that inventories are building and diesel demand is falling as winter weather eases.

Brent crude fell also, though not by as much, as traders weighed more signs of slowing growth in China against persistent oil production outages in Libya and South Sudan that have supported the European benchmark’s prices.

U.S. commercial crude oil inventories likely rose last week by 1.4 million barrels, according to a Reuters poll Monday, which would be the second week of gains.

CNBC

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