Oil Caps Biggest Weekly Drop Since September on European Economy

Crude fell, capping the biggest weekly decline since September, on concern that European economic growth will slow, curbing fuel demand.

Futures dropped to the lowest level in more than six weeks after Fitch Ratings lowered France’s outlook and put nations including Spain and Italy on review for downgrade. Exports from the euro area dropped in October, led by declines in Germany and Spain, according to the European Union’s statistics office.