Oil Drops 0.9 Percent on Concern EU Debt Talks May Fail

Bloomberg reported that oil inched down 0.9 percent on concern that EU leaders may not be successful in resolving the debt crisis.

As quoted in the market news:

Crude for March delivery fell as much as 85 cents to $98.71 a barrel in electronic trading on the New York Mercantile Exchange. It was at $99.10 at 1:10 p.m. London time.

Click here to read the full Bloomberg report.