NEW YORK, United States – Oil fell for a fifth day yeterday to around US$84 a barrel on dim economic signals and warnings that higher crude oil prices may choke off the fragile economic recovery.

Benchmark crude for May delivery dropped 29 cents to settle at US$84.05 a barrel on the New York Mercantile Exchange.

Oil prices slid as the International Energy Agency warned that the recent two-month, 25 percent crude rally could jeopardize a recovery in the world’s biggest economies if prices stay above US$80 per barrel.

“The economy is getting better, but if oil prices go up, it may end that story,” said PFGBest analyst Phil Flynn.

Meanwhile, aluminum maker Alcoa Inc. kicked of earnings season on Monday with results that came up short of analysts’ expectations, sending crude prices tumbling earlier in the session. Oil dipped as low as US$82.51 at one point. Although Alcoa thinks manufacturers will use more aluminum this year, many of its markets should still fall below historical norms.

Flynn said Alcoa’s results “definitely played into bearish psychologies.” Alcoa’s performance reflects the health of the U.S. manufacturing industry, which is a major consumer of diesel fuel.

The last several days of sliding oil prices partly reverse the strong gains made last week when prices rose above US$87 a barrel.