Oil Down After Bin Laden's Death, Economic Growth Uncertain

Oil Down After Bin Laden's Death, Economic Growth Uncertain

Oil dropped for a second day in New York on signs growth in the U.S. economy may slow, while price swings intensified on concern the death of Osama bin Laden will lead to retaliatory attacks by terrorists.

Futures fell as much as 0.7 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 the al-Qaeda leader was killed.

Source: Oil Down After Bin Laden's Death, Economic Growth Uncertain