Brent slips below $113 as Europe overshadows Mideast woes
1/11/2012 12:48:59 PM
SINGAPORE: Brent crude slipped below $113 on Wednesday as Europe's debt crisis and expectations of a rise in oil inventories in the United States for the third straight week overshadowed concerns of supply disruption from Iran and Nigeria.
Worries over Greece's finances, which is racing to conclude a deal and secure continued funding without which it will default in March, made oil pare some of the previous session's gains made on optimism about U.S. economic growth. Base metals also fell, while gold held steady just below a key resistance.
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