Oil Falls for First Time in Four Days on U.S. Inventory Gains
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Oil fell for the first time in four days in New York after the U.S. Energy Department reported that crude and fuel inventories climbed as imports surged.
Futures dropped 0.8 percent after the government said crude stockpiles rose 1.34 million barrels to 336.1 million last week and imports reached a 10-week high. Oil also decreased after a German official raised doubts that there will be an agreement on easing Europe’s debt crisis this week.