Oil Declines on European Debt Concerns, Rising U.S. Stockpiles
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Oil traded near the lowest in more than a week amid concern over Europe’s debt crisis and rising U.S. stockpiles.
Crude for June delivery was at $96.97 a barrel, down 40 cents, in electronic trading on the New York Mercantile Exchange at 3:18 p.m. Singapore time. The contract earlier slipped as much as 0.6 percent and rose as much as 0.2 percent. It fell 2.3 percent yesterday to $97.37. Prices are 39 percent higher in the past year.