Crude Declined as ECB Downgraded Economic Forecasts
hzcapheretCrude oil prices slumped amid ECB’s downgrade of economic outlook and political tensions in Italy. These upstaged increased hopes on resolutions on the US fiscal cliff. The front-month contract for WTI crude oil prices slumped to a 5-day low 85.68, before settling at 86.26, down -1.84%, while the equivalent Brent crude contract plummeted to 106.63, the lowest level since November 9, before ending the day at 107.03, down -1.64%.
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Crude Declined as ECB Downgraded Economic Forecasts
