Oil falls on US stocks rise, weaker economic outlook

LONDON, Aug 15 (Reuters): Oil prices fell on Wednesday, weighed down by a gloomier global economic outlook and a report of rising US crude inventories, even as US sanctions on Tehran threatened to curb Iranian crude oil supplies.

Global benchmark Brent crude oil LCOc1 was down 50 cents a barrel at $71.96 by 0830 GMT. US light crude CLc1 was 55 cents lower at $66.49.

"Sentiment is sandwiched between a darkening global economic outlook and looming Iranian supply shortages," said Stephen Brennock, analyst at London brokerage PVM Oil Associates.

US crude stocks rose by 3.7 million barrels in the week to Aug. 10, to 410.8 million barrels, private industry group the American Petroleum Institute (API) said on Tuesday.

Crude stocks at the Cushing, Oklahoma, delivery hub rose by 1.6 million barrels, the API said.

Official US oil inventory data was due to be published later on Wednesday by the Energy Information Administration.