Oil Falls as China’s Economic Recovery Disappoints, Dollar Strengthens

A worker collects a crude oil sample at an oil well operated by Venezuela's state oil company PDVSA in Morichal, Venezuela, on July 28, 2011. Carlos Garcia Rawlins/Reuters

LONDON—Oil fell more than $1 on Wednesday as economic growth in China, the world’s second-largest crude user, slightly missed expectations, raising concerns about future demand, while U.S. dollar strength dented investor’s risk appetite.

Brent crude futures fell $1.26, or 1.6 percent, to $77.03 per barrel by 1158 GMT. U.S. West Texas Intermediate crude futures (WTI) were down $1.35, or 1.9 percent, at $71.05.