BLBG: Crude Little Changed Near 8-Week Low as Europe Economy Shrinks
Crude traded little changed near an eight-week low as data showed Europe’s economy contracted the most in at least 13 years in the fourth quarter.
Crude oil for March delivery traded up 6 cents at $34.04 a barrel in elctronic trading on the New York Mercantile Exchange at 11:28 a.m. London time. Futures closed at the lowest since Dec. 19 yesterday.
Brent crude for April settlement fell as much as 1 percent to $45.55 a barrel on London’s ICE Europe exchange.
