European Banking Worries Elevated amid Moody's Downgrades

Volatility in oil trading increased as the US market opened. WTI crude oil for November delivery initially soared to as high as 77.17 after Trichet's comments on the Eurozone's outlook. Yet, gains were pared and price tumbled to 75.52 as Moody's downgrade of Anglo Irish Bank Corp's debt rating intensified worries about out peripheral economies in the Eurozone. Crude oil ended the day flat at 76.52. Gold moved narrowly around 1300 as heightened sovereign concerns drove capitals to safe-haven assets.

Here is the original post: 
European Banking Worries Elevated amid Moody's Downgrades