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Crude oil falls more than $1 on euro zone worries
September 26, 2012 / 8:40 AM / 5 years ago

Crude oil falls more than $1 on euro zone worries

LONDON, Sept 26 (Reuters) - Crude oil futures fell more than $1 per barrel on Wednesday on worries over the euro zone debt crisis as Greece faced its biggest anti-austerity strike for months and Spain’s central bank suggested the country’s recession was deepening.

A stronger dollar and weaker euro also depressed oil after the Bank of Spain said Spain’s gross domestic product fell at a “significant rate” in the third quarter.

Greece’s transport system ground to a halt, shops pulled down their shutters and hospitals worked on emergency staff on Wednesday as the country’s two biggest unions protested against a new round of belt-tightening.

North Sea Brent crude oil futures fell $1.04 to a low of $109.41 before recovering slightly to trade around $109.65 by 0835 GMT. U.S. light crude oil futures also fell sharply, dropping to an intra-day low of $90.33, down $1.04. (Reporting by Christopher Johnson; editing by James Jukwey)

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