Oil Falls From Close to Nine-Month High; Earlier Gain Seen as Unjustified

(Bloomberg) -- Crude oil fell from near a nine-month
high in New York as some analysts and traders speculated recent
gains weren't justified.

Oil rose this week after the U.S. Department of Energy said
refineries cut processing to a six-week low last week, as demand
for gasoline grew. Oil also rose after Iran, the second-largest
producer in the Organization of Petroleum Exporting Countries,
rejected United Nations demands to quit enriching uranium.


Read more at Bloomberg Energy News