Oil falls to lowest level in four months

Filed under: AM Roundup |

The price of a barrel of oil fell to its lowest price in four months, thanks to European Union elections that have left austerity packages in doubt, reports Bloomberg.

Futures dropped 3.2 percent and the Euro dropped to a three-year low after French elections that put socialist Francois Hollende as president and Greek elections that favored anti-austerity candidates.

Crude dropped to around $95 a barrel on weaker jobs reports in the United States.

Read more at Bloomberg.