Oil Falls to Lowest Level in Almost Seven Weeks as Dollar Rises

Oil fell to the lowest level in almost seven weeks as the dollar strengthened against the euro, curbing the appeal of commodities as an alternative investment.

Oil dropped for a fourth day after the dollar jumped to its highest level against the euro since July 13 as investors sought the relative safety of the U.S. currency before economic reports this week that may show the recovery is faltering. Stocks fluctuated as industrials rose and technology shares declined.