London - Oil prices fell for a second day running on Tuesday, dragged lower by downbeat Chinese economic data that highlighted concerns about slowing growth in the world's second-biggest economy, analysts said.
Brent North Sea crude for delivery in July shed $1.31 to stand at $102.64 in London midday deals.
New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July, slid $1.13 to $94.64 a barrel.
Sucden brokers analyst Kash Kamal, based in London, said that “disappointing Chinese data out over the weekend has provided resistance to the possibility of short term gains”.
In Sydney, CMC Markets strategist Michael McCarthy told AFP that dealers were “trying to get their heads around China and its import and export data”.
The Asian power has published a series of lukewarm economic indicators, sparking concerns about slower growth in China, the world's biggest energy consumer.
On Saturday, the country reported a slowdown in exports in May compared to the previous month, and an unexpected drop in imports.
The Chinese government a day later announced that industrial output expanded at a slightly slower pace in May while big-ticket investment growth eased.
The figures come amid growing concern over the outlook for China's economy, which grew 7.8 percent in 2012, its worst performance in 13 years.
Traders were also watching developments between Sudan and South Sudan.
Sudan President Omar al-Bashir shut the pipeline carrying South Sudanese crude for export, and on Sunday Sudan suspended nine security and economic pacts with its neighbour.
South Sudan produces about 350,000 barrels of oil per day but depends on Sudan's export infrastructure.
Meanwhile, OPEC kept its world oil demand forecast for 2013
virtually unchanged in its latest update on Tuesday, but tipped downward revisions given the deteriorating economic climate.
The Organization of Petroleum Exporting Countries (OPEC) said it expected world demand this year to reach 89.65 million barrels per day (mbpd), a slight drop from the forecast of 89.66 mbpd in its previous monthly report.
This would represent a rise of 780,000 bpd from 2012 oil demand, said the cartel which pumps about 35 percent of the world's crude.
Most of the increased demand is due to China and other countries not in the OECD club of advanced economies.
But OPEC warned “the current forecast is subject to downward revisions not only in the OECD but also in emerging economies.” - Sapa-AFP