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Brent crude ends lower on euro zone, China worries

Brent-crude-hovers-at-107

Brent July crude fell $3.21, or 3 percent, to settle at $103.47 a barrel, the lowest settlement since the Dec. 16 close at $103.35. Brent fell to $102.97, its lowest intraday price since Dec. 19, after reaching $106.82.

May 31, 2012 11:45 by



Brent crude fell 3 percent on Wednesday on the threat to petroleum demand from a spreading euro zone debt crisis that weakened the euro against the dollar and from China’s signal that it is not planning a large economic stimulus.

Brent July crude fell $3.21, or 3 percent, to settle at $103.47 a barrel, the lowest settlement since the Dec. 16 close at $103.35. Brent fell to $102.97, its lowest intraday price since Dec. 19, after reaching $106.82.

(Reporting by Robert Gibbons)



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