Euro zone data suggests bloc may slip into recession
World leaders urge IsraelHamas ceasefire for aid to Gaza
API shows US crude, fuel stockpiles fall market sources
Coming up EIA data on US crude stocks at 1030 a.m. EDT

Oct 25 Reuters Oil fell for a fourth day on Wednesday as concerns about slowing European demand offset worries about Middle East supply disruptions stemming from the IsraelHamas conflict in Gaza.

Brent crude futures dropped 28 cents, or 0.3, to 87.79 a barrel as of 0627 GMT, while U.S. West Texas Intermediate crude futures were down 31 cents, or 0.4, to 83.43 a barrel.

Euro zone business activity data took a surprise downturn this month, suggesting the bloc may slip into recession, creating a drag on the outlook for oil demand. Overall, the region39;s oil refineries have been consuming less crude than a year ago amid lacklustre economic growth, Euroilstock data has shown.

Countries are pushing for a pause or ceasefire in fighting between Israel and Hamas in the Gaza Strip so that humanitarian aid could be delivered to besieged Palestinian civilians and the leaders of U.S. and Saudi Arabia on Tuesday discussed efforts to prevent the conflict from widening to potentially include major producer Iran.

Oil39;s pullback has coincided with disappointingly soft softer European PMIs, suggesting at least some softening from the demand side, rather than being wholly attributable to warrelated supply disruption threats being assuaged, said Vishnu Varathan,…