Oil Falls a Fourth Day on U.S. Supplies, Chinese Rate Outlook
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Crude oil fell in New York for a fourth day, the longest losing stretch in nine weeks, on rising U.S. stockpiles and speculation China will increase interest rates to curb inflation.
Oil dropped 0.5 percent after the Energy Department said that U.S. crude and fuel supplies rose last week. Prices climbed earlier as German business confidence unexpectedly climbed to a record in January amid booming exports to Asia and French business confidence surged.