Oil futures down by more than $1/bbl on fresh eurozone concerns

18 March 2013 06:14  [Source: ICIS news]

SINGAPORE (ICIS)--Global crude oil futures fell by more than $1/bbl on Monday after a radical bailout plan for Cyprus triggered fresh concerns about the eurozone’s debt crisis.

At 04:05 GMT, NYMEX WTI for April delivery was down by $1.11/bbl at $92.34/bbl, while ICE Brent for May delivery fell by $1.36/bbl to $108.46.

The EU and the International Monetary Fund (IMF) wants all bank customers in Cyprus to pay a levy in return for a €10bn ($13bn) aid package, resulting in public outrage.

($1 = €0.77)

By: Nurluqman Suratman

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