Oil Falls for a Second Day on Concern Demand Growth May Slow

Crude oil fell for a second day after China’s economic growth eased and the Federal Reserve said the U.S. outlook has “softened,” adding to concern fuel demand will slow in the world’s two biggest energy consumers.

Oil declined as Asian stocks dropped from a three-week high, following a pullback in U.S. equities. China, the second-largest energy user, posted growth of 10.3 percent in the quarter ended June, down from 11.9 percent in the first three months of the year, signaling a deeper second-half slowdown that may add to risks for the global economy.