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Crude oil dropped after the Federal Reserve announced plans to buy $400 billion of long-term debt and said there are “significant downside risks” to the economic outlook.
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Crude oil declined after the U.S. government reported that fuel inventories climbed, demand dropped and retail sales stalled in the world’s biggest oil- consuming country.
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Oil fell in New York after Federal Reserve Chairman Ben S. Bernanke said he sees increasing risk to the economic outlook and the Standard & Poor’s 500 Index dropped after the biggest gain in two weeks.
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Oil capped its biggest monthly drop in New York since May after the government reported an unexpected increase in U.S. crude supplies.
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Crude oil rose as the dollar fell against the euro and other currencies, increasing the investment appeal of commodities denominated in the U.S. currency.
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Crude oil dropped to a five-week low on concern that a faltering economy will curb demand in the U.S., the world’s leading consumer.
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Crude oil fell the most in two weeks on concern China will raise interest rates to combat inflation, slowing economic growth and demand for energy.
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Crude oil fell for a second day after U.S. government reports showed an unexpected gain in supplies and a decline in purchases of new homes.
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Oil surged the most in three months in New York after U.S. crude supplies declined the most in a year and demand increased.
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Oil tumbled to a one-week low after the government reported an unexpected increase in supplies as imports jumped to the highest level in almost four years.
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