Crude Oil sank in Asia after Greek parliament approved a new austerity budget which the government presented as a condition to the release of foreign aid.

oil offshore platform
Crude Oil sank in Asia after Greek parliament approved a new austerity budget which the government presented as a condition to the release of foreign aid.

New York’s main contract, light sweet crude for delivery in December, fell five cents to $86.02 a barrel and Brent North Sea crude for December delivery shed 34 cents to $109.06.

“European markets are not showing any positive signs of economic recovery as they struggle to fight the fires burning in Greece and Spain currently,” IG Markets said in a report.

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