Oil fell towards $75 a barrel to its lowest since late August on Wednesday, pressured by concern that demand is weakening and supply ample even as U.S. sanctions loom on oil exporter Iran. In a sign supply is plentiful, industry group the American Petroleum Institute said on Tuesday U.S. crude stocks had risen by 9.9 million barrels – more than forecast. The U.S. government’s supply report is due at 1430 GMT. Brent crude LCOc1, the global benchmark, was down 80 cents to $75.64 a barrel at 0930 GMT. It fell earlier to $75.11, the lowest since Aug. 24. U.S. crude CLc1 dropped 17 cents to $66.26. “Rising oil inventories and growing petro-nations’ output calm the supply fears related to the Iran oil embargo,” said Norbert […]