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Oil Declines on Equity Drop, Reserve Release Discussion

Oil fell to a six-week low as U.S. equities dropped and France said governments are moving closer to an agreement on a release from emergency stockpiles to curb price gains.

Futures slipped the most this year and stocks dropped a third day as Standard & Poor’s said Greece may have to restructure its debt again. French Prime Minister Francois Fillon said the prospects of an accord on tapping strategic reserves are good and the International Energy Agency said it’s ready to act if supplies are disrupted.