Brent Edges Down Toward $109 Ahead of Cyprus Bailout Vote

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Brent crude oil fell below $109 a barrel on Tuesday as uncertainty over a bailout for Cyprus revived concerns about the euro zone debt crisis, but a rosier economic outlook in the United States capped losses.

Cyprus’s parliament was set to reject a divisive tax on bank deposits in a vote on Tuesday, pushing the island closer to a debt default and banking collapse. The proposal announced over the weekend shattered calm in the euro zone and caused global markets and the euro to tumble on Monday.

via Brent Edges Down Toward $109 Ahead of Cyprus Bailout Vote.

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