Oil prices fall on oversupply concerns, weak economic data

Oil prices fell on Tuesday on worries over a global glut, while surveys showing a contraction in manufacturing activity in China and Japan also dragged on market sentiment. Brent crude was down 20 cents at $63.14 a barrel as of 0355 GMT (1155 EDT), after closing the previous session up 32 cents. "I think the Japan and China PMI figures are weighing on the market," said Jonathan Barratt, chief investment officer at Sydney's Ayers Alliance.

Oil prices fall on oversupply concerns, weak economic data source: http://finance.yahoo.com/news/oil-prices-fall-oversupply-economic-011949668.html