Oil Tumbles on Inflation Woes, Iraq Exports

The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, on March 21, 2016. Leonhard Foeger/Reuters

LONDON—Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes.

Brent crude futures for October settlement fell $2.45, or 2.33 percent, to $102.64 a barrel by 1022 GMT, after climbing 4.1 percent on Monday, the biggest increase in more than a month.