Oil Falls a Fourth Day in New York on U.S. Supplies

- January 22nd, 2011

Bloomberg reports that Crude oil fell in New York for a fourth day on rising U.S. stockpiles and speculation China will increase interest rates to curb inflation.

Bloomberg reports that Crude oil fell in New York for a fourth day on rising U.S. stockpiles and speculation China will increase interest rates to curb inflation.

The market news is quoted as saying:

Oil dropped 0.5 percent after the Energy Department said that U.S. crude and fuel supplies rose last week. Prices climbed earlier as German business confidence unexpectedly climbed to a record in January amid booming exports to Asia and French business confidence surged.

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