Crude Oil Fals Below $ 70 on Global Growth Concerns

U.S. crude oil fell back below $70 a barrel on Monday, giving up an earlier gain on persistent worries that Europe's debt crisis would slow the global economic recovery. The euro fell broadly, pulling back from a short-covering rally after the Spanish central bank's takeover of a savings bank underlined structural problems facing fiscally fragile euro zone states. European stocks slipped. The euro was on the back foot after the Bank of Spain said on Saturday it had taken over the running of CajaSur following the failure of its planned merger with another regional lender. Crude oil is trading at $70.08 as of 21:35pm, London-Time, with a bullish trend. Crude's Pool-Position is 52% Long, meaning that most Finotec clients are buying the commodity.
(oil n gold)
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