Economics
Oil Declines on Concern European Debt Crisis Will Curb Growth
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Crude oil fell from a one-week high on concern Ireland’s debt crisis will spread to Portugal and Spain, reducing economic growth and fuel demand, and as tensions in Korea mounted.
Oil dropped as the euro declined to a two-month low against the dollar, curbing investor demand for commodities. Euro-area finance ministers plan to complete an agreement on an Irish bailout on Nov. 28, a European Union official said on condition of anonymity. North Korea warned its confrontation with South Korea could lead to war.