Brent Slips Lower On Global Economic Concerns

By International Business Times,  December 06, 2012, 10:32:30 AM EDT

Brent crude oil remained under pressure on Thursday morning, trading at $108.79. With the U.S. fiscal cliff still heavy on investors' minds, many are worried about decreasing oil demand in 2013.

Despite promising comments from U.S. President Barack Obama, the battle between Democrats and Republicans over how to reduce the nation's deficit raged on with both parties refusing to compromise. The main point of conflict is whether or not to raise taxes. Republicans are adamantly against raising taxes for the wealthy, while Obama has deemed tax hikes for the wealthy the best solution.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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