Oil Falls as Report Shows Petroleum Demand Drops to 10-Month Low

Crude oil fell after a government report showed U.S. petroleum demand dropped to the lowest level in more than 10 months as the economy struggled to recover.

Crude declined for a third day this week after the Energy Department reported fuel consumption decreased 0.7 percent to 18.3 million barrels a day in the week ended Oct. 8, the lowest level since the seven days ended Nov. 27. A Labor Department report today showed U.S. jobless claims unexpectedly rose to 462,000 in the week to Oct. 9.