Brent Crude Declines Amid Disagreement Over U.S. Budget

Brent crude fell for a second time in three days amid concern that deadlock in U.S. budget talks may threaten to curb economic growth and fuel demand.

The North Sea benchmark dropped as much as 45 cents, reversing earlier gains. European stocks declined for a third day on concern U.S. lawmakers won’t agree to a budget before more than $600 billion in tax increases and spending cuts known as the fiscal cliff start taking effect in January. The Stoxx Europe 600 slid 0.3 percent to 278.62, while indexes in the U.K., Germany and France slumped.