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Brent oil slips as Europe worries mount

London, June 27, 2012

Brent crude oil fell more than $1 a barrel on Wednesday, pressured by concerns about the lack of progress on a plan to tackle Europe's debt crisis.

Brent was down $1.08 at $91.94 per barrel. US crude was down 56 cents at $78.80.

Low expectations for a bold move from a Thursday summit of European leaders to halt contagion from the 30-month long debt crisis once again switched the focus back to a weak demand outlook for oil. – Reuters




Tags: London | UK | Europe | Brent Crude | Debt crisis |

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