Oil market dogged by supply glut

World oil prices declined Tuesday, falling for the fifth straight session on long-running worries about a supply glut and a weak global economic outlook, dealers said. In midday deals in London, Brent North Sea crude for December dipped 16 cents to $47.35 a barrel. US benchmark West Texas Intermediate for delivery in December retreated 16 cents to $44.03 a barrel compared with Monday's close.