Crude Oil Trades Near Four-Week Low as Equity Markets Retreat
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Oil traded near its lowest level in a month as retreating equity markets reinforced concern that a slowing recovery will crimp fuel consumption.
Crude pared earlier gains of 1.3 percent as the dollar reversed losses against the euro, undermining investors’ appetite for using commodities to protect against inflation. Oil may fall next week on speculation that slowing U.S. growth will cause fuel inventories to increase, according to a Bloomberg survey of analysts.