Crude Oil Falls as Much as 1.2% to $69.66 a Barrel in New York

By Christian Schmollinger

Nov. 5 (Bloomberg) -- Crude oil fell in New York, giving back some of yesterday's 10 percent gain, on concern demand for fuels will decline because of an economic slowdown.

Crude oil for December delivery declined as much as 87 cents, or 1.2 percent, $69.66 a barrel on the New York Mercantile Exchange. It was at $69.72 a barrel at 9:16 a.m. Singapore time.

Prices, which have tumbled 53 percent since reaching a record $147.27 on July 11, are down 26 percent from a year ago.

To contact the reporter on this story: Christian Schmollinger in Singapore at christian.s@bloomberg.net.