The eurozone crisis helped oil prices shave off around 20% from their 2012 highs as the...

|By:, SA News Editor

The eurozone crisis helped oil prices shave off around 20% from their 2012 highs as the supply/demand ratio narrowed, according to the latest IEA report. The slump accelerated in May, with downward pressure also stemming from a slowdown in China and excess supply from some big producers. Crude futures +0.1% to $83.42.