By Christian Schmollinger Nov. 14 (Bloomberg) -- Crude oil fell in New York on concerns that global fuel demand is declining as major consuming nations enter recessions. Crude oil for December delivery dropped as much as 34 cents, or 0.6 percent, to $57.90 a barrel on the New York Mercantile Exchange. It was at $57.95 a barrel at 1:26 p.m. Singapore time. The contract earlier rose as much as $1.72, or 3 percent, to $59.96 a barrel. Prices have tumbled 61 percent from a record $147.27 on July 11. Yesterday, futures gained $2.08, or 3.7 percent, to $58.24 a barrel. Oil is set to fall 7.8 percent this week, the second week of decline. To contact the reporter on this story: Christian Schmollinger in Singapore at christian.s@bloomberg.net.

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