Oil Prices Retreat as Europe Struggles to Contain Debt Crisis

摘要

Oil prices fell Monday as a contraction of industrial output in the euro zone highlighted the danger of recession in the region as Europe struggles to contain its sovereign debt crisis. Industrial production in the 17-country bloc fell 2% in September from August, dimming support for oil from investors who had hoped new governments in Italy and Greece would help their economies avoid a collapse. The poor industrial data and news that Italy had paid a euro-era high price to sell five-year bonds pressured the euro and equities.