Oil Prices Fall Sharply As Stock Market Sells Off « OilPrice »

After starting the week on a firmer note, oil prices fell
sharply toward the end of the week in a general market sell-off as
investors sought the dollar as a safe haven amid worries about
European Union economies.

Debt problems that have plagued Greece are now spreading to
Portugal and Spain, driving the euro down temporarily below $1.36
and bringing the dollar to an 8-month high. Because oil and other
commodities are priced in dollars, gains in the U.S. currency
usually translate … [visit
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