Oil Falls Before Doha as Global Markets Brace for Weekend Risk
- U.S. stocks slip as energy producers trim weekly advance
- Dollar declines, Treasuries rise as risky assets in retreat
Saudi Arabia, Iran Take Center Stage at Doha Oil Talks
Oil fell the most in two weeks before major suppliers meet in Doha to discuss an output freeze, boosting bonds and sending global stocks lower, with investors wary of potential disappointment from the talks. American equities retreated.
U.S. crude fell 2.8 percent, while the Standard & Poor’s 500 Index declined after energy producers cut their gains from the previous four days. Shares in Europe dropped for the first time in six days. Treasuries rose amid disappointing American factory data. Exporter currencies climbed as a flood of Chinese data added to evidence that the world’s second-largest economy is stabilizing. Brazil shares rose as a court ruled an impeachment vote against President Dilma Rousseff can go ahead Sunday.