Colosseum a.s. (Colosseum a.s.)
Commodities  |  February 26, 2013 13:45:28

Oil weakens due to the election results in Italy

ColosseumInitial estimates of the results of the Italian parliamentary elections yesterday pointed to a likely victory of center-left coalition led by Pier Luigi Bersanim. This coalition had planned to continue the saving rate and support the euro, sparking optimism in the markets. Today, however, it appears that the outcome of the election is so close that there is stalemate and therefore there is the probability of an early election. Once again, there is uncertainty about the future development of the European debt crisis. There is no certainty as to the future Italian government will deal with this issue. Therefore, oil continued today on yesterday's slight weakening, and now our time at 13:19 on the CME reaches the level of $ 92.31 per barrel.

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