As investors continued to worry about the outlook for the global economy, international oil prices fell to eight-month lows on the 11th.
The day early, high international oil prices, opening to go to the main driving factor is the EU finance ministers agreed to provide financial assistance of up to 100 billion euros to the Spanish banking system. The message to a large extent eased the fears of investors in the Spanish banking crises, risk assets previously oversold rebound once the rebound in oil prices over 2 U.S. dollars.
However, the optimism soon disappeared. Investors began to worry that Italy may also face difficulties in financing followed by Spain to the European Union to seek assistance. Once the third-largest euro area economies to join the ranks of Greece, Portugal, Ireland and Spain, that the EU's financial assistance will be challenged, and pose a threat to the entire euro zone economy.
At the same time, concerns about the United States and China's economic slowdown on the market still exists, continuing to suppress the market confidence. China has announced the May economic data, both good and bad, industrial output is less than the market expected, oil-importing ring significant increase of 10%. Market analysts believe that China still faces the risk of economic slowdown.
In addition, when the Organization of Petroleum Exporting Countries (OPEC), the largest producer Saudi Arabia's oil minister said OPEC may need to increase oil output target in the second half of this year the meeting held on the 14th. Sufficient oil supply also weighed on oil prices.
To closing, the New York Mercantile Exchange, light sweet crude for July delivery fell $ 1.40 to close at $ 82.70 a barrel, down 1.66 percent, since October last year, its first close below $ 83 a barrel. July Brent crude futures fell $ 1.47 to close at $ 98.00 a barrel, a decrease of 1.48%.



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