Brent falls for the second straight day

Oil continued to fall as the US market opened today, to deepen its losses for the second straight day, on global recession fears after weak manufacturing data in Germany and Europe, while the geopolitical tensions in the Middle East curbed the losses after the US announced the deployment of additional troops in Saudi Arabia for protection of vital installations.

Brent fell to $63.56 a barrel, from the opening of $65.28, with a high of $65.37.

On Friday, Brent futures fell by 0.3%, as Saudi Arabia announced to meet its full supply commitments.

During last week, oil prices rose 6.5%, the third weekly gain in a month, and the biggest weekly gain since July.

After sabotage attacks on Aramco oil facilities in Abqaiq and Khurais in the Eastern region, which led to the suspension of about 5% of the global oil supply.

German data showed that the manufacturing sector slowed in September in the lowest pace since June 2009, while the European manufacturing sector slowed in the lowest pace in seven years, which renewed the markets' fears about the global economy which is still suffering from the raging trade war between the US and China.

The Pentagon announced the deployment of additional troops in Saudi Arabia for protection of vital installations, by reinforcing air propulsion.

US secretary of state Mike Pompeo said on Sunday that the additional troops are for deterrence and defense, and the US wants to avoid war with Iran.