Oil Fall as European Finance Ministers Meet on Greece
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Oil dropped as euro-area finance ministers met to negotiate a bailout payment for Greece and as American leaders prepared to wrestle with a budget agreement.
Futures declined 0.6 percent as officials gathered in Brussels to discuss Greek aid less than a week after a meeting failed to yield an agreement. Republicans and Democrats in the U.S. need to find a budget compromise to avoid triggering $607 billion in tax gains and spending cuts in January that the Congressional Budget Office said could lead to a recession.