Oil falls on U.S. stocks rise, weaker economic outlook | Reuters

Oil falls on U.S. stocks rise, weaker economic outlook | Reuters:

Oil prices fell on Wednesday, weighed down by a gloomier global economic outlook and a report of rising U.S. crude inventories, even as U.S. sanctions on Tehran threatened to curb Iranian crude oil supplies. 

Global benchmark Brent crude oil LCOc1 was down 50 cents a barrel at $71.96 by 0830 GMT. U.S. light crude CLc1 was 55 cents lower at $66.49.

“Sentiment is sandwiched between a darkening global economic outlook and looming Iranian supply shortages,” said Stephen Brennock, analyst at London brokerage PVM Oil Associates.