Oil Trades Near Two-Day Low in New York on Euro-Area Concern

Bloomberg reported that oil traded low on concerns that Europe’s debt crisis may cause the eurozone to fracture.

As quoted in the market news:

Crude oil for December delivery was at $95.63 a barrel, down 11 cents, in electronic trading on the New York Mercantile Exchange at 12:33 p.m. Sydney time. The contract yesterday fell $1.06, or 1.1 percent, to $95.74, the lowest settlement since Nov. 7. Prices are 4.6 percent higher the past year.

Click here to read the full Bloomberg report.