Oil slipped in New York, trimming its fourth straight weekly gain and longest winning streak since March, on concern that European plans to solve the region’s debt crisis may founder, threatening economic growth. West Texas Intermediate reversed gains as the euro halted a two-day advance against the dollar on signs that an agreement to bail out Greece may be hindered by collateral requirements by some European countries. The 17 euro nations accounted for about 12 percent of global oil demand in 2010, according to Bloomberg calculations based on BP Plc’s Statistical Review of World Energy. “Persistent concerns about the euro zone’s problems continue to dominate the markets,” said Myrto Sokou, an analyst at Sucden Financial Ltd. in London. “The current economic and political conditions look fairly tentative at the moment.” Crude for October delivery on the New York Mercantile Exchange fell as much as 98 cents, or 1.1 percent, to $88.42 a barrel, and was 63 cents lower at $88.77 at 1:17 p.m. London time. Prices are still up 1.8 percent this week. The euro fell 0.9 percent against the dollar, reducing the appeal of commodities, after Finland’s Finance Minister Jutta Urpilainen said an agreement on collateral at today’s trans-Atlantic finance meeting in Wroclaw, Poland, is unlikely. To contact the reporters on this story: Ben Sharples in Melbourne at bsharples@bloomberg.net; Grant Smith in London at gsmith52@bloomberg.net To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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