Oil Slips From 30-Month High on Demand Signals From U.S., China

Oil slipped from the highest level in more than 30 months in New York on signs demand may drop in the U.S. and China, the largest crude-consuming countries.

Futures slid 13 cents after the Institute for Supply Management reported a smaller-than-forecast increase in its U.S. index of non-manufacturing businesses and China’s central bank raised interest rates. U.S. oil supplies probably climbed last week, according to a Bloomberg survey of analysts before an Energy Department report tomorrow.