Oil falls from two-month high as fears from Evergrande crisis loom

Oil edged down from its highest close in almost two months amid ongoing concerns about the risk to markets from China Evergrande Group’s ongoing tumult. However, there are signals that stockpiles globally are declining. 

Futures in London fell after earlier touching their highest level since July 14. Dow Jones reported that China has asked local governments to prepare for Evergrande’s potential failure, causing equity markets to pare earlier gains, though the company has been told to avoid near-term default on its bonds.

Still, government data Wednesday showed nationwide U.S. crude inventories fell for a seventh week, while those at a