Oil Falls for a Fourth Day on Signs of Slowing U.S. Fuel Demand
This article is for subscribers only.
Oil declined for a fourth day in New York, the longest losing streak in eight weeks, as a drop in gasoline demand added to signs of slowing growth in the U.S., the world’s biggest crude consumer.
Futures fell as much as 0.7 percent after the Energy Department said yesterday that crude stockpiles climbed to the highest since October and gasoline consumption slipped to a four-week low. Separate reports showed a slower-than-forecast expansion in U.S. service industries and employment.