Oil prices touched a four-month low in New York on speculation that a fragile global economy and the ongoing fiscal mess in the eurozone will depress international demand for fuel.
Oil futures slid as much as 2% today, erasing the year's gains, after the European officials once again failed to reach an agreement on a fresh bailout for debt-strapped Greece, reinforcing a growing view that the indebted eurozone nation could be headed for a default.
The euro fell against the dollar for the first time in three days. The common currency declined for a fourth day versus the yen, its longest losing streak in six weeks.
