Monday, 7 May 2012

OIL

Oil fell sharply on Monday, extending losses from the previous session, after elections in France and Greece raised concerns about their ability to carry out further austerity measures and renewed worries the euro zone debt crisis may resurface.
The bad news from Europe came after U.S. non farm hiring slowed for the second month in a row in April, which fueled a sell-off in oil markets on Friday.
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