Oil falls under $72, euro zone fiscal woes weigh
February 8th, 2010
| Tags: business, euro countries, toyota prius
Reuters
SINGAPORE (Reuters) - Oil sank below $72 a barrel on Tuesday, after rising nearly 1 percent the day before, weighed down by nagging worries over an uncertain demand outlook and the fiscal health of some euro zone countries.
Crude rose on Monday, snapping three sessions of losses, as a weaker U.S. dollar, a cold snap and geopolitical tensions provided support.
But fears over the euro zone’s sovereign debt woes continued to cast a pall over commodity and equity markets, with Wall Street closing below the 10,000-level for the first time since November the previous day, and Japan’s Nikkei average hitting its lowest in two months on Tuesday.
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