Oil Prices Drop To $120 Average On Concerns About Low Demand

Oil Prices Drop To $120 Average On Concerns About Low Demand

LONDON (Jessica Donati and Caroline Copley) – Brent crude oil fell on Tuesday, slipping below $120 a barrel for the first time in two weeks, pressured by concern about the economic outlook and that high prices could erode demand.

Expectations Greece would be forced to restructure its debt added to a bleak economic picture on Tuesday, a day after ratings agency S&P cut its outlook for U.S. credit.

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