Crude oil prices fall heavily, following stock markets lower

Crude oil prices have fallen over three percent in trading today as global stock markets tumbled lower and risk appetite dwindled on renewed worries over Eurozone debt and fiscal problems. WTI Light crude oil futures for August delivery were trading down at $75.60 on the NYMEX at 16.00 GMT, while in London, Brent crude oil futures also fell over three percent at $75.06 per barrel on the ICE Futures Exchange. European shares fell towards a three-week low, Shanghai’s equities index lost more than 4% and Japan’s Nikkei was poised for its worst quarter since 2008 as the US dollar rose against the Euro. The negative economic sentiment was also felt in Europe, where equities dropped ahead of Thursday’s expiration of a massive package of loans to euro-zone banks by the European Central Bank. Concerns about Europe’s financial health rattled the Euro, sending it to 2 week lows against the US dollar and adding pressure to crude oil prices. A stronger greenback makes the purchase of dollar denominated oil more expensive for market participants using other currencies. Brent oil price trading at $71 amid European debt issues Brent oil trading lower on continued euro debt concerns Oil prices trading at $71 mark, following stock markets Oil prices trading near $70 as global stock markets slump Oil prices dropping off a cliff with stock markets in tow Oil prices again being lead by dollar and euro swings Crude oil prices gain as traders eye global stock markets Oil prices trading negative on profit taking, stock markets Brent oil price back at $75, Euro debt spooks the market Brent oil prices trading near $80 as stock markets jump Oil prices trading higher helped by Asian stock markets Oil prices open trading around $72 mark, US dollar gains Oil prices trading back near $75 amid ongoing Euro concerns Oil prices trading at $70 mark amid stock market falls WTI oil price skids under $70 as US dollar firms up Brent oil price trading at $74 as new Euro concerns hit Brent oil price trading over $81 amid euro debt concerns Brent oil price steady at $80 as stock markets shoot higher Euro in Greek tailspin, US dollar firms & oil prices holding out Oil prices trading near $85, global stock markets higher

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Crude oil prices fall heavily, following stock markets lower