Crude de­clines from 3-day high

The Pak Banker - - Front Page -


Oil de­clined from a three­ses­sion high in New York amid con­cern that Spain may post­pone a re­quest for a bailout while Euro­pean fi­nance chiefs meet to­day to dis­cuss ad­di­tional funds for Greece.

Fu­tures dropped as much as 0.6 per­cent af­ter gain­ing the most since Oc­to­ber last week. Pro-in­de­pen­dence par­ties in Spain's Cat­alo­nia won a re­gional vote, strength­en­ing a drive for a ref­er­en­dum on se­ces­sion in de­fi­ance of the na­tion's Prime Min­is­ter. Euro­pean of­fi­cials gather in Brus­sels to­day, less than a week af­ter an all­night meet­ing failed to yield an agree­ment. Oil rose last week be­cause of con­cern that fight­ing be­tween Is­rael and Ha­mas and un­rest in Egypt would spread and dis­rupt Mid­dle East crude sup­plies.

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