Oil Falls Most in Two Weeks on Concern China to Boost Rates

Crude oil fell the most in two weeks on concern China will raise interest rates to combat inflation, slowing economic growth and demand for energy.

Oil dropped 2.2 percent after China said inflation was 4.6 percent in December and that the economy of the world’s biggest energy-consuming country grew 9.8 percent in the fourth quarter. Prices also declined after the Energy Department said that U.S. crude supplies rose for the first time in seven weeks.