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London Brent crude falls more than $1 on U.S. data

2009-08-18 13:17:00 GMT (Reuters)
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LONDON, Aug 18 (Reuters) - Brent crude oil futures fell more than $1 a barrel on Tuesday, giving away earlier gains after weak U.S. housing data rekindled doubts over the pace of economic recovery in the world's largest energy user.

London Brent crude for October was down 88 cents at $69.66 by 1309 GMT, off an earlier high of $71.42.

Investors are awaiting weekly U.S. fuel inventory reports to be released on Tuesday and Wednesday, expected to show crude stockpiles have risen for the fourth straight week.

(Reporting by Joe Brock; Editing by Keiron Henderson)

 
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