Oil Drops a Sixth Day on Slower Europe, China Economic Recovery

Crude oil dropped for a sixth day in New York on concern that the pace of economic recovery is slowing in Europe and China, stalling a rebound in fuel demand.

Oil fell below $72 a barrel as the China Automotive Technology & Research Center said car sales expanded at a slower pace in June. European stocks declined for a fifth day, the longest losing streak in a year, as a report showed growth slid in the region’s services and manufacturing industries.