Heating Oil Falls on Concerns About U.S. and European Economies

Heating oil slid on concern that U.S. economic growth is stalled and that European leaders won’t reach a consensus on how to contain the region’s debt crisis, which is threatening the global recovery and fuel demand.

Futures fell as the U.S. economy grew 1.9 percent in the first quarter, less than the 3 percent gain the prior quarter, Commerce Department figures showed. First-time jobless claims fell 6,000 to 386,000 last week, hovering near the highest level of the year, the Labor Department reported. European leaders are meeting at an economic summit in Brussels today.