Oil Tumbles From Five-Month High as Dollar Gains Versus Euro
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Crude oil tumbled from a five-month high after the dollar rebounded versus the euro and U.S. equities declined, wiping out an early advance.
Oil fell the most in three weeks as the greenback climbed against the common currency for the first time in three days, reducing the appeal of commodities as an alternative investment. The Standard & Poor’s 500 Index slipped for a second day as raw-material prices dropped, sending producer shares lower.