Oil Falls for Fourth Day in New York; Brent Fluctuates
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Crude dropped below $87 a barrel to the lowest in almost three months in New York while London’s Brent futures fell for a sixth session as companies missed sales forecasts leading to concern about the global economic outlook.
Futures for December delivery tumbled as much as 2 percent. Brent fell as much as 0.9 percent to the least since Oct 4. Companies such as Posco, Asia’s third-largest steelmaker, and Faurecia, Europe’s largest maker of car interiors, revised down estimates. The Keystone oil pipeline won’t resume full deliveries until next month after a halt.