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Reply #2: Oil falls to near $100 after S&P warning [View All]

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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-06-11 06:56 AM
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2. Oil falls to near $100 after S&P warning
SINGAPORE Oil prices fell to near $100 a barrel Tuesday in Asia after a U.S. credit rating agency warned it may cut the debt ratings of 15 eurozone countries.

Benchmark crude for January delivery was down 52 cents to $100.47 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 3 cents to settle at $100.99 on Monday.

In London, Brent crude was down 59 cents at $109.20 on the ICE futures exchange.

Standard and Poor's said late Monday it was reviewing "with negative implications" its long-term sovereign credit ratings of European countries including Germany, France and Austria.
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