Oil Tumbles From Two-Year High in N.Y. as Dollar Strengthens
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Crude oil fell from the highest level in two years as the dollar strengthened against the euro, curbing the appeal of commodities as an alternate investment, and equities declined.
Oil dropped for the first time in seven days as the euro slipped amid concern some governments in Europe may struggle to pay their debt. The Standard & Poor’s 500 Index decreased, led by financial and consumer companies.