Oil tumbles on fiscal cliff fears, European debt (3)

U.S. oil inventory data, which showed a 1.8-million-barrel build last week despite the massive disruptions caused by Hurricane Sandy on the East Coast, adding to bearish sentiment.

The Energy Information Administration's report also registered a weekly increase of 2.9 million barrels for gasoline inventories.

Light, sweet crude for December delivery lost 4.27 dollars, or 4.81 percent, to settle at 84.44 dollars a barrel on the New York Mercantile Exchange.

Brent crude for December delivery plunged 4.15 dollars to 106. 92 dollars a barrel.

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