WTI drops amid levy by Cyprus on savings

Source: Bloomberg

West Texas Intermediate oil declined on Monday falling from its highest level in three weeks after the Eurozone's finance ministers decided to raise 5.8 billion euros by putting a levy on Cyprus bank savings, which brought worries about recovery in Europe. April WTI oil futures decreased $1.31 to $92.14 a barrel on the NYME after climbing to $93.45 on March 15, its highest close price since February 20.


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Mon, 18 Mar 2013 08:40:10 GMT

Palm oil falls on Malaysian export tax and concerns about Europe's deeper recession

Palm oil decreased on Monday after a speculation that Malaysian stockpiles will hold close to its highest level as demand was reduced by 4.5% tax retained by the government and on concern that Europe might slid back into crisis after a levy on Cyprus's bank accounts. Palm oil for May delivery dropped 0.8% to 2,395 ringgit a metric ton on

Mon, 18 Mar 2013 08:29:06 GMT

Euro drops on unprecedented levy on Cyprus bank deposits

The 17-nation bloc's currency depreciated versus the U.S. Dollar to the lowest level so far this year and it fell by the most in last three weeks against the Yen after finance ministers of the Eurozone decided to raise 5.8 billion Euros by taxing every bank account in Cyprus. The Euro dropped 1.4% to $1.2892 earlier on Monday London session

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