Oil falls after ECB says eurozone economy weak

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Associated Press

Posted on February 19, 2013 at 6:02 AM

BANGKOK (AP) — The price of crude oil fell today after the head of the European Central Bank described the economic outlook of the 17 countries that use the euro as weak in the near term.

Benchmark crude for March delivery was down 53 cents to $95.33 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. Nymex floor trading was closed Monday for the Presidents Day holiday. The contract fell $1.45 to finish at $95.86 a barrel on the Nymex on Friday.

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