Oil slips on gloomy consumer confidence data

Crude prices slipped on Tuesday as data showed consumers were still not so confident about the future of economic recovery.

Light, sweet crude for November delivery ended 13 cents lower to 66.71 U.S. dollars a barrel on the New York Mercantile Exchange.

The New York-based Conference Board said Tuesday that U.S. consumer confidence fell unexpectedly in September, suggesting people were uncertain about the outlook of U.S. economy with the unemployment rate at a record high.

Meanwhile, investors were also worried about the recovery of oil demand. The Energy Information Administration will release its weekly inventories report on Wednesday while most analysts see a potential surge in the crude supply.

In London, Brent Crude for November delivery dipped 19 cents to65.35 dollars a barrel on the ICE Futures exchange.

Source:Xinhua