Oil Falls Sharply On Eurozone Concerns

Published on Thursday, 31 May 12:25 pm

Benchmark oil prices fell by more than 3% on 30 May to their lowest level in seven months as growing concerns about the Eurozone and a global economic slowdown triggered a move by investors into less risky markets. Brent crude fell by $3.21/B on the day to $103.47/B, while WTI crude dropped by $2.94/B to $87.82/B. Analysts expected crude futures to have declined by about 17% during May.

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