Crude Oil Falls as Sovereign Crisis Remains Unrosolved, Alaskan Pipelines Resume Operations
BonTradeThe US market was closed yesterday so that the focus was on Europe and Asia. EU finance ministers ruled out expanding the size of the EFSF for now while Spain offered a premium over its existing debt to sell 6B euro of bonds after 2 auctions scheduled to be held on Thursday was cancelled. The euro slumped while yield spreads between peripheral bonds and German bunds widened. In the commodity markets, WTI crude oil fell after faltering below 92. Decline in the euro and re-opening of Alaskan pipeline weighed on oil prices. Gold changed little with price hovering around 1360.
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Crude Oil Falls as Sovereign Crisis Remains Unrosolved, Alaskan Pipelines Resume Operations
