Market Chatter: WTI Crude Pares Losses as Euro, Equities Reduce Declines
"West Texas Intermediate crude pared losses as equities came off intraday lows after European policymakers signaled flexibility on the application of an unprecedented bank tax in Cyprus," Bloomberg reported.
It said: "Futures slipped for the first time in three days as the levy on bank savings threatened to worsen Europe's debt crisis. WTI for April delivery declined 17 cents to $93.28 a barrel on the New York Mercantile Exchange after falling to $91.76. Brent for May settlement dropped 66 cents, or 0.6%, to $109.16 a barrel on the London-based ICE Futures Europe exchange."
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