Futures & Commodities Update

Oil Drops After Biggest Gain in Six Weeks on Outlook for Supply

Oil dropped after the biggest gain in six weeks as a forecast for rising inventories in the U.S., the world’s biggest consumer of crude, signaled fuel demand may be faltering.

Futures slid as much as 0.4 percent in New York. Crude stockpiles probably rose a second week to the highest level since August, according to a Bloomberg News survey before an Energy Department report tomorrow. Prices advanced yesterday after U.S. manufacturing in March expanded at a faster pace than forecast. Oil has climbed this year amid concern tension with Iran will disrupt global supplies. Full Story