Oil Drops on Economic Growth Concern

Bloomberg reports that Oil inched down for a second day in New York.

The market news is quoted as saying:

Crude, which touched a 2 1/2-year high yesterday, fell as much as 1.4 percent after the Institute for Supply Management’s manufacturing index declined to the lowest in four months. U.S. crude stockpiles rose last week from the highest since November, according to a Bloomberg News survey before an Energy Department report tomorrow. Oil options volatility increased after news of the al-Qaeda leader’s death

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