Crude prices settle below 70 U.S. dollars

2010-05-19 04:56:26

NEW YORK, May 18 (Xinhua) -- Crude prices settled below 70 U.S. dollars per barrel on Tuesday as the euro fell to a new four-year low against the dollar.

Oil prices rebounded in the morning after Greece received a 14. 5-billion-euro emergency loan from the European Union.

However, worries about the European debt crisis and the declining euro pulled down the prices later in the day.

The euro fell to a new four-year low against the greenback as Germany said it will restrict naked shorting on some stocks and bonds.

Light, sweet crude for June delivery fell 54 cents to 69.41 a barrel on the New York Mercantile Exchange.

In London, the Brent crude July contact dropped 67 cents to settle at 74.43 dollars on the ICE futures exchange.

๑۩۞۩๑๑۩۞۩๑๑۩۞۩๑๑۩۞۩๑๑۩۞۩๑

Sphere: Related Content