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Oil Plunges Nearly 4%
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Description
FBN’s Adam Shapiro on the decline in oil prices.
- Duration 0:58
- Date Jun 21, 2012
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Transcript
This transcript is automatically generated
-- -- -- Here Fox Business -- the very start on Wall Street continues bit less than thirty minutes left in the trading day kind of disappointing reports on the US economy.
And global manufacturing are weighing heavily on markets.
It was also a tough day for oil crude plunged nearly 4% today to close at 78 dollars twenty cents a barrel.
On New York trading -- lower oil prices comes relief at the pumps according to triple a.'s daily fuel gauge the national average for a gallon of regular.
Gasoline is now three dollars and 42 cents.
-- and other European governments have already agreed to bail out everyday and Spanish banks but now details of how that bailout will be funded -- emerging European finance ministers negotiate terms of the deal.
According to the Spanish finance minister a formal request for the money 100 billion euros.
We'll come in the next few days Dow Jones reports eurozone leaders will use money from the European Financial Stability Facility.
The fund used to backstop Euro -- governments with debt problems.
To fund the bank.
