Oiling the euro wheels
EURO COMMENTARY
LONDON -- The recent collapse in oil prices could be a blessing in disguise for the beleaguered euro, which has failed to make significant gains in the weeks following the attacks on the US.
Brent crude prices dropped by 14% in one day on September 24 -- the biggest one day decline since the end of the Gulf War in 1991 -- dropping to trade around the $22.5 a barrel mark, where it remained at the end of last week. Oil analysts believe global economic slowdown and excess capacity will keep prices
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