Heating Oil Declines to Four-Month Low on Europe Debt Concerns
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Heating oil slid to the lowest level this year on speculation that diesel use will slow as the outcomes of elections in France and Greece raised concern that euro-nation countries won’t agree how to address the region’s debt crisis.
Futures sank as Francois Hollande was elected president of France, pledging to push for less austerity and more growth. In Greece, voters flocked to anti-bailout parties. Prices also fell after Labor Department figures on May 4 showed the U.S. added fewer jobs than expected during April.