Oil Prices Drop to Three Month Low on Economic Concerns

Filed under: International Markets, Economic Data, Oil, Eastern Europe, Financial Crisis, Currency

Oil prices continue their decline, falling to levels not seen since mid February today.



Concerns continue to linger about the economic situation in Europe, which has been giving the U.S. dollar a major boost, driving oil lower. Oil fell $1.25 a barrel today to $74.40.



There are plans in place to combat the crisis in Greece, but experts are skeptical that the $1 trillion package and additional austerity measures will be able to completely correct the debt problem the country is experiencing.

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Oil Prices Drop to Three Month Low on Economic Concerns originally appeared on BloggingStocks on Thu, 13 May 2010 19:00:00 EST. Please see our terms for use of feeds.

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