Oct. 28 (Bloomberg) -- Crude oil fluctuated as U.S. equities retreated after 3M Co. led industrial shares lower and the dollar declined against the euro. Oil slipped as much as 0.3 percent after the Standard & Poor’s 500 Index wiped out a rally that was fueled by higher- than-forecast results at Exxon Mobil Corp. Oil climbed earlier today as the dollar fell against the euro for the first time in three days, bolstering the appeal of commodities. “Oil is tracking the S&P 500 more than anything else,” said Tim Evans, an energy analyst with Citi Futures Perspective in New York. Crude oil for December delivery declined 19 cents to $81.75 a barrel at 10:55 a.m. on the New York Mercantile Exchange. Futures climbed as much as 70 cents, or 0.9 percent, to $82.64. Brent crude oil for December settlement slipped 3 cents to $83.20 a barrel on the London-based ICE Futures Europe exchange. The S&P 500 slipped 0.1 percent to 1,181.15 at 10:50 a.m. in New York after climbing as much as 0.6 percent. The Dow Jones Industrial Average decreased 22.59 points, or 0.2 percent, to 11,103.69. The dollar fell as the Federal Reserve considers buying government debt. Estimates for the size of the asset-purchase program range from $1 trillion at Bank of America-Merrill Lynch to $2 trillion at Goldman Sachs Group Inc. Economists at both firms agree the Fed will likely start by announcing a $500 billion plan after a meeting on Nov. 2 and Nov. 3. The U.S. currency slumped as much as 1.1 percent to $1.3914 against the euro, before trading at $1.3901 at 10:51 a.m. U.S. gross domestic product rose at a 2 percent annual pace in the third quarter, up from a 1.7 percent rate in the previous three months, based on the median forecast in a Bloomberg News poll of economists before a Commerce Department report tomorrow. --Editors: Joe Link, Richard Stubbe To contact the reporter on this story: Mark Shenk in New York at mshenk1@bloomberg.net. To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net.

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