Oil Falls on Chinese Inflation Data

Oil dropped as accelerating Chinese inflation bolstered concern that economic stimulus may be curbed. The spread between crude in New York and London narrowed to the least in almost four months.

Futures fell 0.3 percent after the Chinese government said prices rose the most in seven months. The discount of West Texas Intermediate oil traded in New York to London’s Brent shrank after Enterprise Products Partners LP and Enbridge Inc. completed the Seaway pipeline expansion, providing an outlet for record supplies in the central U.S.