Markets

Brent Falls Following Cyprus Deal

Brent crude oil slid lower on Monday morning following news that eurozone leaders have agreed to lend money to Cyrus if the country imposes a levy on banks to help fund the rescue package. The commodity traded at $108.33 at 10:33 GMT on Monday as the nation's government prepared to vote on the law.

The unusual terms of the bailout have caused many to worry that levy could become a precedent for future government funding needs. Investors pulled their money from surrounding eurozone countries in fear that their accounts could receive the same treatment.

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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 Nasdaq, Inc.

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