Oil Falls to One-Month Low on Retail Sales
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West Texas Intermediate crude fell to a one-month low after U.S. retail sales and consumer confidence declined, signaling lower fuel demand.
Futures dropped 2.4 percent as Commerce Department figures showed that sales slipped 0.4 percent last month, the most since June. A gauge of U.S. consumer sentiment also declined to a nine-month low. Cyprus was said to seek an increase in the 10 billion euros ($13 billion) in aid pledged by the European Union. The Standard & Poor’s GSCI Index of 24 commodities tumbled, led by metals and energy futures.