Crude Oil Drops as U.S. Fiscal Deal Concerns Grow

The Wall Street Journal reported that crude oil futures dipped 1% amid concerns that the U.S. fiscal cliff negotiation is not making any progress.

As quoted in the market news:

“The market is down on continued concern that there’s not been movement on fiscal cliff negotiations, and the fact that both sides might be content that nothing happens this year,” said Andy Lipow, president of Lipow Oil Associates in Houston.”

Click here to read the full Wall Street Journal report.