Oil Falls From Three-Month High on Signs of European Instability
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Oil declined in New York, falling from a three-month high as European equity markets declined and the euro weakened against the dollar amid concern that political instability in the region may undermine demand.
Futures dropped as much as 1.1 percent amid speculation that Italian Prime Minister Silvio Berlusconi will struggle to keep a majority, after Greek Prime Minister George Papandreou agreed to step down. The Stoxx Europe 600 index fell as much as