Commodity Corner: Brent Falls on Fresh Fears

Brent crude crashed Monday on fresh concerns about Europe's ongoing debt crisis.

Germany's Finance Minister Wolfgang Schaeuble said Monday that European governments would not have a definitive resolution by the end of the Oct. 23 summit. Monday's remarks dampened investor optimism and pressured the euro to fall from its one-month high against the dollar.

Brent crude for December delivery fell $2.07 to $110.16 a barrel while light sweet crude declined 42 cents to settle at $86.38 a barrel.
Brent fluctuated between $109.74 and $112.32 during its first session for the December contract. Meanwhile, the intraday range for the WTI was $85.88 to $88.18 a barrel.

A recent rally lost momentum Monday pushing natural gas prices lower. Natural gas lost 1.5 cents to end at $3.69 per thousand cubic feet on the New York Mercantile Exchange. Prices traded as low as $3.64 for the beginning of the week. Meanwhile, gasoline futures also ended the session at $2.74 a gallon, down 2.9 percent.

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Brent Crude Oil : $55.45/BBL 0.99%
Light Crude Oil : $52.37/BBL 1.20%
Natural Gas : $3.42/MMBtu 0.88%
Updated in last 24 hours