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- Oil fell to 5-day low
Oil fell to 5-day low
Oil fell as
equities dropped on political turmoil in Europe and as the prospect of renewed
talks between Western countries and
Futures slipped as much as 1.7 percent and the euro weakened after Spanish Premier Mariano Rajoy faced opposition calls to resign amid contested reports about illegal payments.
Talks to
defuse tension over
Crude oil
for March delivery dropped to $96.07 a barrel on the New York Mercantile
Exchange. Futures are up 5.2 percent this year.
Brent oil
for March settlement fell 61 cents, or 0.5 percent, to $116.15 a barrel on the
London-based ICE Futures Europe exchange. The contract settled at $116.76 on Feb.
1, the highest level since Sept. 13. The volume of all contracts traded was 16
percent above the 100-day average.
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