Oil prices fell in Asian trade Tuesday as weak Chinese manufacturing data and profit-taking pared some of crude’s 25%-plus gains of the previous three trading sessions. U.S. oil prices had surged by around 27.5% in the past three days , the largest such rally since Iraq’s invasion of Kuwait in August 1990. Much of Monday’s gains came after reports that the Organization of the Petroleum Exporting Countries may consider cutting output to boost oil prices, and on signs of a decline in U.S. oil production. Despite hitting multiyear lows toward the end of August, Nymex crude prices rebounded sharply in recent days to finish up 4.4% for the month, while Brent crude gained 3.7% over the same period. But soft Chinese economic data helped to weaken oil prices in early Asian hours Tuesday. China’s official manufacturing purchasing managers index fell to 49.7 in August from 50.0 a month ago, […]