23 May 2012 12:30 [Source: ICIS news]
SINGAPORE (ICIS)--Crude futures fell by more than $1/bbl on Wednesday on concerns over the Eurozone debt crisis and anticipation of a possible resolution of the ?xml:namespace>
At 10:47 GMT July Brent crude on
July NYMEX light sweet crude futures (WTI) were trading at $90.91/bbl, down by 94 cents/bbl on the previous close. Earlier, the
Leading world powers are set to hold talks with
Concerns of a possible exit of debt-laden
Worries were heightened on Tuesday after
The US dollar strengthened against the Euro and other leading currencies, making dollar denominated commodities such as crude less attractive to investors.
Equity markets in Asia also softened amid Eurozone worries with the Nikkei 225 stock index in
Traders now await the release of official weekly US Government inventory data from the Energy Information Administration (EIA) which is due out later on Wednesday.
$1 = €0.79
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