Oil Drops 63 Cents Over Fears of Further EU Debt Crisis

Bloomberg reported that oil declined 63 cents as the deadlock between EU lawmakers and Greek bondholders over debt relief raised concern for further crisis.

As quoted in the market news:

Crude oil for March delivery fell 63 cents to settle at $98.95 a barrel on the New York Mercantile Exchange. Prices are up 13 percent from a year earlier.

Click here to read the full Bloomberg report.