Price of oil falls on winter fuel fears

WORLD oil prices fell yesterday, resuming a two-week slide as rising crude inventories eased concerns over winter fuel supplies.

US light crude fell over $1.31 to $47.55 a barrel, $8 below the record $55.67 peak struck in late October.

Brent crude in London lost $1.10 to $43.65 a barrel, unwinding all the gains of the previous session.