Crude Declines on Demand Concerns After Fed Lowers U.S. Economic Forecast

Bloomberg reports that oil dropped for the first time in four days.

The market news is quoted as saying:

Oil for August delivery on the New York Mercantile Exchange declined as much as $4.30 to $91.11 a barrel in electronic trading and was at $91.28 at 1:44 p.m. London time. The contract yesterday rose 1.3 percent to $95.41 and has gained 20 percent in the past year.

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