Crude falls $2/bbl as weak euro raises concerns over demand

20 May 2010 13:24  [Source: ICIS news]

LONDON (ICIS news)--Crude prices fell by more than $2/bbl on Thursday to take Brent crude on the ICE futures exchange below $72/bbl as a faltering euro raised concerns over European oil demand.

By 12:05 GMT, July Brent crude had hit a low of $71.61/bbl, which was a loss of $2.08 from the previous close of $73.69, before recovering to around $71.80.

At the same time, June NYMEX light sweet crude futures were trading around $68.30/bbl, having hit a low of $67.92, which was a loss of $1.95 from the previous close.

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By: Tony Dillon
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