Crude oil weakens further as investors sold crude again on worries that Eurozone crisis will curb economic recovery. It digested the positive news from Germany. Germany’ confidence index rose. Now the market reconsidered that the China’s RMB measures may not benefit commodities and so profit booking after yesterday’s rally also took place to some extent. Fitch Ratings announced that it cut BNP Paribas’ rating to AA- stating that bank’s asset quality is deteriorated. This indicates that Europe is not yet out of woods.
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