Crude Oil Falls as Stronger U.S. Dollar Erodes Hedging Appeal

By Grant Smith

Oct. 21 (Bloomberg) -- Crude oil fell for the first time in three days as the U.S. dollar rose to its highest in more than a year against the euro.

Investors often choose to sell crude and other dollar- priced commodities when the U.S. currency gains as their use as an inflation hedge is undermined.

Crude oil for November delivery fell as much as 90 cents, or 1.2 percent, to $73.34 a barrel on the New York Mercantile Exchange at 8:52 a.m. in London.

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net