Oil prices fell by more than 2% this evening after data showing a drop in US consumer confidence led to concerns about the economy.
US consumer confidence dropped in July, recording its second consecutive decline as sentiment remained affected by a difficult job market.
US crude traded down $1.49 to $66.89 a barrel, while London Brent fell $1.39 to $69.42.
Optimism that a turnaround in the global economy could lift slumping fuel demand has supported crude prices this year. Crude fell from record highs near $150 a barrel last July to below $33 a barrel in December as the recession battered world consumption.
