Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes.
Brent crude futures for October settlement fell $2.45, or 2.33%, to $102.64 a barrel by 1022 GMT, after climbing 4.1% on Monday, the biggest increase in more than a month.
The October contract expires on Wednesday and the more active November contract was at $101.12 a barrel, down 1.76%.
U.S. West Texas Intermediate crude was at $95.46 a barrel, down $1.55, or 1.6%, following a 4.2% rise in the previous session.
