Crude oil fell for a second day in New York on speculation slowing economic growth in the U.S., the world's biggest energy user, will curb demand.

U.S. fuel demand has dropped for seven out of the past eight weeks while a report tomorrow may show manufacturing slumped to a five-year low this month. Fighting between government forces and militiamen in Iraq, holder of the third-largest proven oil reserves, eased after a truce offer from Shiite cleric Moqtada al-Sadr.

"The price is dependent on oil demand in the U.S. because so many people are looking at it," said Tetsu Emori, fund manager with Astmax Ltd. in Tokyo. "Gasoline demand in the U.S. ... Read full article