Thursday 18 August 2011

Brent crude slips, below $111 on euro zone woes, firm dollar

SINGAPORE: Brent crude fell, staying below $111 a barrel on Thursday as ongoing concerns over Europe's debt crisis and a firmer dollar drew investors away from riskier assets like oil and into the safe havens of gold and the Swiss franc.


Brent crude for October fell 10 cents to $110.50 by 0331 GMT, after settling $1.47 higher at $110.60 a barrel on Tuesday. U.S. crude was down 20 cents at $87.38 a barrel, after closing up nearly a dollar in the previous session.


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