Oil below $77 as Greece crisis gnaws at confidence

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GMT - 3 Hours Oil below $77 as Greece crisis gnaws at confidence

Post by ĽĭÓń ĤéĂѓŦ on Fri Oct 07, 2011 5:59 pm

Updated at: 1227 PST, Tuesday, October 04, 2011
SINGAPORE: Oil slid below $77 a barrel on Tuesday in Asia as fears intensified that Greece may not be able to crawl out from beneath a mountain of debt without defaulting.

Benchmark crude for November delivery was down 92 cents to $76.70 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange its lowest since late September 2010. Benchmark crude fell $1.59, or 2 per cent, to close at $77.61 per barrel in New York on Monday.

In London, Brent crude fell 81 cents to $100.90 on the ICE Futures Exchange.
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