Oil falls on concerns economic slowdown may dent fuel demand

Oil prices fell on Monday, ending three days of gains, on fears aggressive U.S. interest rate hikes may lead to a global economic slowdown and dent fuel demand.

Brent crude futures for October settlement declined $1.17, or 1.2%, to $95.55 a barrel by 0054 GMT, with concerns over slowing demand in China because of a power crunch in some areas also weighing on prices.