Oil declined in New York, extending last week's loss amid concern of slowing consumption in China after the country lowered its growth goal.
Futures dropped as much as 1.1 percent after earlier rebounding from the first weekly loss in four. China, the world's second-largest oil user, will aim for economic growth of 7.5 percent this year, the lowest goal since 2004, Premier Wen Jiabao said today. Israeli Prime Minister Benjamin Netanyahu and U.S. President Barack Obama will meet today to discuss confronting Iran's nuclear program, even as Obama asked Israel to help tone down "too much loose talk of war."
Futures dropped as much as 1.1 percent after earlier rebounding from the first weekly loss in four. China, the world's second-largest oil user, will aim for economic growth of 7.5 percent this year, the lowest goal since 2004, Premier Wen Jiabao said today. Israeli Prime Minister Benjamin Netanyahu and U.S. President Barack Obama will meet today to discuss confronting Iran's nuclear program, even as Obama asked Israel to help tone down "too much loose talk of war."
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