Oil fell edged lower on Tuesday, declining for a second day and sapping more strength from a third-quarter rally, amid signs that a global glut in crude may not be clearing as quickly as bulls had hoped. U.S. crude was down 15 cents, or 0.3 percent, at $50.43 a barrel by 0041 GMT, after closing down $1.09 or 2.1 percent in the previous session.

The U.S. benchmark posted a third quarter gain of around 12 percent, its strongest quarterly gain since the second quarter of 2016, but has now dropped nearly 5 percent from a six-month high reached on Thursday. Brent crude , the global benchmark, was down 18 cents, or 0.3 percent, at $55.94 a barrel. The contract fell 67 cents, or 1.2 percent, in the previous session.

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