Crude Oil Falls From One-Week High on Doubts About U.S. Demand

Oil fell from its highest price in more than a week on concern that last week’s 2.3 percent gain was optimistic, given the outlook for fuel demand in the U.S., the world’s biggest user of crude.

Futures declined after the dollar strengthened against the euro, making dollar-priced commodities less attractive for investors in other currencies. The Commerce Department reported on Aug. 27 the U.S. economy grew at an annual rate of 1.6 percent in the second quarter, down from an estimate of 2.4 percent last month.