Crude Falls a Second Day on Signs China, U.S. Demand May Slow
This article is for subscribers only.
Oil fell for a second day in New York after China moved to cool its economy and signs of slowing growth in the U.S. bolstered speculation that demand may falter in the world’s biggest consumers of the fuel.
Crude declined as much as 1.4 percent as equity prices fell and the dollar strengthened after China’s central bank raised lenders’ reserve requirements. Futures dropped 0.5 percent yesterday after a Labor Department report showed the most first-time claims for unemployment-insurance benefits since October.