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Post by dait on Nov 16, 2011 5:26:11 GMT -5
Brent crude slipped below $112 today, reversing some of the previous session's gains on worries that new governments in Greece and Italy may fail to muster political clout to impose unpopular reforms and contain the region's debt crisis. Oil markets are looking for clues on demand growth from Europe, with Italy due to unveil a technocrat-led cabinet and a new Greek coalition expected to win a confidence vote. Asian shares fell because of the uncertainty and the euro hit a five-week low. Brent crude slipped 68 cents to $111.50 a barrel by 7.48am, while US oil fell a steeper 79 cents to $98.58 due to a surprise build in crude stocks in the world's largest oil consumer, the United States.
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