Last week, a deal was struck in Europe on adopting tougher fiscal rules. World oil prices dropped as investors worried that last week's European deal on adopting tougher fiscal rules might not be enough to save the euro zone from its debt crisis. Oil on the Nymex fell to US$98 levels.
The market keenly awaits an OPEC meet in Vienna for a crucial production meeting on Wednesday.
13-Dec-11 
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