Crude Oil Falls to Lowest Level in Two Weeks as Dollar Rebounds
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Crude oil fell to the lowest level in two weeks as the dollar strengthened, curbing the appeal of commodities as an alternative investment.
Oil retreated as the Dollar Index, which tracks the U.S. currency against six of its major peers, rebounded from a 10-month low after technical indicators suggested further declines would be difficult to sustain. The dollar declined earlier today after U.S. Federal Reserve Chairman Ben S. Bernanke said additional monetary stimulus may be warranted.