Oil prices tumble amid Greek woes

CNNMoney
June 17, 2011

Oil prices fell to a fresh four-month low Friday as jitters about Greece’s debt crisis continued to weigh on investors.

In electronic trading, oil for July delivery fell nearly 3% to $92.12 a barrel, its lowest intra-day level since Feb. 22 — before heading back up to $93.81 later in the morning.

Fears about Greece defaulting on its debt have kept investors on edge for more than a year, but they escalated this week after riots erupted in Athens in response to austerity measures.

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This article was posted: Friday, June 17, 2011 at 10:31 am

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