Data provided by McGregor BFA
All data is delayed
Loading...
See More

Oil dips as Italy polls spark concern

Feb 26 2013 07:59 AFP

(File, AP)

Related Articles

Oil falls as traders eye Italy elections

Oil prices rebound in Asia

Oil falls following ECB warning

Oil prices mixed in Asian trade

Oil prices climb on US jobs report

Oil dips as Italy polls spark concern

 

Singapore - Oil prices were down in Asia on Tuesday after inconclusive Italian national elections threatened instability in the country and to disrupt the eurozone's recovery, analysts said.

New York's main contract, light sweet crude for delivery in April dropped 63 cents to $92.48 a barrel and Brent North Sea crude for delivery in April shed 49c to $113.95.

"The cloudy Italian elections sent shudders across global markets ... causing panic it might derail the eurozone's nascent recovery," IG Markets Singapore said in a market commentary.

A political deadlock loomed in Italy as it appeared Sunday's elections failed had to produce a clear winner.

Polls show that while the leftists won the lower house, the party run by former prime minister Silvio Berlusconi had more seats in the upper house.

A majority in both chambers of parliament is required to form a government, leaving Italy in a state of limbo.

"This raised fears that much-needed austerity measures for Italy could stall due to political infighting," the IG Markets report said.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

commodities  |  markets  |  oil
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

DA ad scores nearly half a millions hits on YouTube

The DA's "Ayisafani" (It's not the same) election TV advert - originally pulled off the air by the SABC - has garnered nearly half a million views on YouTube.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...