Oil Declined 31 Cents Over Europe’s Re-emerging Debt Crisis

Reuters reported that oil declined on concern over Europe’s re-emerging debt crisis and Euro’s 16-month low value against the dollar.

As quoted in the market news:

By 1:40 p.m. EST, ICE Brent crude for February was down 31 cents at $112.97 a barrel, after falling to a session low of $112.11, breaking below its 200-day moving average of $122.67. U.S. February crude was off 51 cents at $101.73 after dropping as low as $100.55.

Click here to read the full Reuters report.