Crude Oil Falls a Second Day After US Stocks Decline on Earnings Reports - Bloomberg

Oil fell for a second day after U.S. equities declined and the dollar strengthened against the euro as applications for U.S. unemployment benefits unexpectedly decreased.

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Futures declined the most in three weeks yesterday, tumbling from a five-month high. A report today may show the U.S. jobless rate increased for a second month in September. The November contract lost as much as 38 cents, or 0.5 percent, to $81.29 a barrel in electronic trading on the New York Mercantile Exchange, and was at $81.48 at 11:08 a.m. Sydney time. Yesterday it shed $1.56, or 1.9 percent, to $81.67, the biggest drop since Sept. 16. Crude is down 0.3 percent this week and 2.5 percent lower this year.

Crude Oil Falls a Second Day After US Stocks Decline on Earnings Reports - Bloomberg