Crude Oil Declines on Concern European Debt Crisis

- May 23rd, 2011

Bloomberg reports that crude oil dropped as Europe’s debt crisis deepened.

Bloomberg reports that crude oil dropped as Europe’s debt crisis deepened.

The market news is quoted as saying:

Crude oil for July delivery tumbled $2.40 to settle at $97.70 a barrel on the New York Mercantile Exchange. It was the biggest one-day drop since May 11. Prices are up 39 percent from a year ago.

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