Oil Falls as Dollar Strengthens, Curbing Appeal of Commodities

Crude oil fell as the dollar rose against the euro, reducing the appeal of raw materials as an alternative investment.

Futures dropped 0.9 percent as the U.S. currency increased on concern that Europe’s debt crisis may resurface. Confidence among U.S. consumers fell in October to the lowest level in almost a year, which may temper consumer spending, the biggest part of the economy.