Crude Declines From Three-Day High as EU Ministers Meet
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Oil declined from a three-session high in New York amid concern that Spain may postpone a request for a bailout while European finance chiefs meet today to discuss additional funds for Greece.
Futures dropped as much as 0.7 percent after gaining the most since October last week. Pro-independence parties in Spain’s Catalonia won a regional vote, strengthening a drive for a referendum on secession in defiance of the nation’s Prime Minister. European officials gather in Brussels today, less than a week after an all-night meeting failed to yield an agreement. Oil rose last week because of concern that fighting between Israel and Hamas and unrest in Egypt would spread and disrupt Middle Eastern crude supplies.