Brent crude oil prices fell more than $2 a barrel this evening as concerns over the possibility of a double-dip recession in the United States were deepened by poor economic data from China.
Brent fell $2.14 to a low of $110.19 before recovering slightly to trade around $110.40. US crude was down $2.12 to $84.33 a barrel in electronic trading on the New York Mercantile Exchange.
The dollar also rose against other currencies, while the euro slipped. The dollar often moves inversely to oil and other key commodities because they are generally priced in the US currency on international markets.
China's services sector grew in August at the lowest pace on record, a private survey showed, as new orders ebbed and tightening measures to rein in an exuberant property sector started to pinch.
Global growth in services came to a virtual standstill last month as new business all but dried up, adding to fears that the world economy is facing a second recession.
