Browsed by
Tag: Icelandic volcano

Oil prices extend losses

Oil prices extend losses

Crude oil prices fell as fresh concerns over Europe’s economy spooked the markets and overshadowed a slew of upbeat corporate earnings. Crude for June delivery dropped $1.05 to $82.63 a barrel.

A spate of mostly upbeat earnings reports in the U.S. helped to boost oil prices, after they fell 3% last Friday on the Goldman Sachs fraud charge. But the good news were overshadowed in part by still weak demand, European economic woes, and the Icelandic volcano, which has crippled international travel and shipments.