Crude oil futures fell, on Monday, erasing last week's gains, as the euro slumped against the dollar, and gold soared to a new record on heightened debt contagion worries ahead of Thursday's summit of euro-zone leaders.The front-month September Brent contract on London's ICE futures exchange dropped 77 cents, at 116.49 dollars a barrel. Crude futures on the NYMEX lost 32 cents, at 96.92 dollars a barrel. The euro fell to a low of 1.40145 against the dollar, as the positive mood on last week's bank stress tests turned sour over the credibility of the tests, and on failing confidence in U.S. economic recovery.
News On AIR | July 18, 2011 9:21 PM
Crude oil futures fall erasing last week's gains