Alongside regional leaders, US Secretary of State Antony Blinken will attend the meetings
world3 hours ago
New York’s benchmark contract, West Texas Intermediate crude for November delivery, was down 68 cents to $92.21 in the afternoon, while Brent North Sea crude for November dipped 84 cents to $110.58.
Victor Shum, an analyst with Purvin and Gertz energy consultancy in Singapore, said the drop in the oil prices “is not surprising given that Asian stock markets are also coming down”.
He said differences between France and Germany on how to deal with the eurozone debt crisis remains a worry for investors.
“Concerns over Europe have caused some selling in Asian equities, and in connection to that also in oil futures,” he said.
The leaders of Germany and France at a meeting on Saturday clashed over plans to monitor Europe’s crisis-hit banks.
Despite affirmations that European unity was the only way out of the debt turmoil, German Chancellor Angela Merkel and French President Francois Hollande differed over a key plank of crisis-fighting: tighter checks on the European banking sector.
Alongside regional leaders, US Secretary of State Antony Blinken will attend the meetings
world3 hours ago
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