RTRS: U.S. crude falls $1 with Asian equities; storm may miss output
SINGAPORE June 29 (Reuters) - Oil fell to $77 on Tuesday as forecasts indicated tropical storm Alex would skirt the main production region in the U.S. Gulf of Mexico, limiting disruption there to a few precautionary shutdowns.
The price drop accelerated with slumping Asian stock markets. Shanghai's main index fell to a 14-month low, while Japan's Nikkei was poised for its worst quarter since October-December 2008 as European debt worries curbed investors' risk appetite.
U.S. crude for August CLc1 dropped $1.21 to $77.04 a barrel by 0612 GMT, after falling 0.77 percent on Monday and rising 21 percent from a May 20 trough below $65. ICE Brent LCOc1 declined $1.09 on Tuesday to $76.50. (Reporting by Alejandro Barbajosa; Editing by Clarence Fernandez)
