Oil Falls to Seven-Week Low on Forecasts of Rising U.S. Supply

Oil declined for a fifth day on speculation U.S. crude and fuel inventories increased last week as economic growth slows.

Oil fell to a seven-week low as the dollar strengthened against the euro, undermining investors’ need to hedge against inflation using dollar-priced assets. U.S. crude supplies probably rose last week while distillate fuel stockpiles may hit the highest level in 27 years, a Bloomberg News survey shows.