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Oil falls as Cyprus bailout details rattle markets

International crude oil prices fell on Monday, as investors worried about the risk from Cyprus plans to pay a bailout cash shortage against tax consequences of growth in the country's bank deposits.
April delivery of benchmark crude oil fell 97 cents, at $92.48 a barrel in Bangkok at noon time in electronic trading on the New York mercantile exchange. New York mercantile exchange on Friday, the contract rose 42 cents to $93.45 a barrel.
Tax is Cyprus and international lenders agree to part of a plan last Saturday, it prompted depositors anxious to Banks in Cyprus extract cash, because they can be as much as possible.
However, analysts say, seems unlikely, panic could spread to other countries and the weaker European economies of capital flight in a timely manner.
"Although the deposit from the sovereignty of other countries, such as Portugal, Spain and Greece's financial problems will be levied with great interest, they will not escape local Banks, this is the main focus of the final questions in here, we have the confidence, said:" Chris weston IG Markets in Melbourne.
On Monday, the euro fell against the dollar and other major currencies. A stronger dollar push the oil price, crude more expensive, use other currency traders.
The price of brent crude oil refinery oil imports by the United States a variety of, down 1.33 $108.52 a barrel on London's ICE futures exchange.
Other energy futures in New York mercantile exchange trading:
- wholesale gasoline fell 3.8 cents to $3.113 a gallon.
- heating oil fell 2.6 cents to $3.005 a gallon.
- natural gas rose 4.6 cents to $3.918 per 1000 cubic feet.
 



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