Oil Trades Near One-Month Low on U.S., Chinese Demand Concerns

Oil traded near the lowest in almost a month as signs of slowing growth in the U.S. and China’s moves to tackle inflation spurred concern fuel demand may falter.

China, the world’s largest energy user, ordered lenders to set aside more cash as reserves after inflation accelerated to the fastest pace in almost three years. Consumer prices in the country climbed 5.5 percent, the quickest pace since 2008. In the U.S., a report today may show retail sales fell in May for the first time in 11 months. The industry-funded American Petroleum Institute will report stockpile data today.