Oil Falls in New York as Economic Outlook Pressures Equities

Oil fell in New York after Federal Reserve Chairman Ben S. Bernanke said he sees increasing risk to the economic outlook and the Standard & Poor’s 500 Index dropped after the biggest gain in two weeks.

Crude slipped 0.3 percent as Bernanke disappointed investors by not detailing new plans to boost growth in the world’s largest economy. Oil settled below a $90 technical resistance level after reaching $90.23 in intraday trading on speculation that tropical storms would affect supply.