Crude oil falls $1/bbl as euro drops over Greece debt crisis

22 March 2010 13:38  [Source: ICIS news]

LONDON (ICIS news)--Crude prices fell by more than $1/bbl on Monday to take Brent crude on London's ICE futures exchange to $79/bbl as the euro lost ground against the US dollar over concerns about Greece's debt crisis.

By 12:15 GMT, May Brent crude had hit a low of $78.43/bbl, a loss of $1.45/bbl from the previous close of $79.88/bbl, before recovering to around $78.85/bbl.

At the same time, April NYMEX light sweet crude futures were trading around $79.45/bbl, after having hit a low of $79.01, which was a loss of $1.67/bbl from the previous close.

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By: Giovanni Coiro
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