Oil Falls in New York as Europe Crisis Counters Iran Sanctions Concern

Oil fell for the first day in three in New York as concern that Europe’s debt crisis is worsening and threatening demand for crude countered speculation that sanctions on Iran will curb supplies.

Futures for February delivery slid as much as 42 cents, or 0.4 percent, to $102.80 a barrel in electronic trading on the New York Mercantile Exchange and were at $102.86 at 2:45 p.m. Sydney time.

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