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WTI Oil Falls to 7-Week Low on Italian Election Concerns
Feb. 25, 2013 04:30PM PST
Resource InvestingBloomberg reported that West Texas Intermediate oil fell to a 7-week low as initial election data in Italy increased concerns that the euro-zone crisis may worsen.
Bloomberg reported that West Texas Intermediate oil fell to a 7-week low as initial election data in Italy increased concerns that the euro-zone crisis may worsen.
As quoted in the market news:
Prices dropped as much as 1.1 percent as U.S. stocks tumbled and the euro weakened against the dollar. Early election results showed Italy may be left with a divided parliament, spurring concern that renewed turmoil in European markets will crimp global growth.