Crude oil prices slid for a second straight day on Wednesday as a stronger dollar and lower demand outweighed geopolitical tensions in Ukraine and Libya and positive economic data in the United States.
An uneasy calm returned to Donetsk in eastern Ukraine after government forces killed dozens of rebels earlier this week, while Libyan oil output shrank again because an armed group disrupted operations at Hariga port. However, Libya's turmoil has largely been priced in, traders said, and they were focused instead on rising orders for long-lasting U.S. manufactured goods and consumer confidence.
The international benchmark gave up gains made earlier in the session to fall 20 cents under $110 as traders booked profits. U.S. oil fell $1.39 to settle at $102.72 a barrel, closing down for the second consecutive day.