SINGAPORE (AP) — Oil prices hovered below $99 a barrel Friday in Asia amid concern Europe's debt crisis will undermine the continent's economic growth and crude demand.
Benchmark crude for December delivery was down 15 cents at $98.67 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell $3.77 to settle at $98.82 in New York on Thursday.
Brent crude for January delivery was down 7 cents at $108.15 a barrel on the ICE Futures Exchange in London.
Crude jumped to above $103 on Thursday before pulling back as Spanish and French sovereign debt yields rose sharply higher. Investors are increasingly worried austerity …
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