Oil falls on concerns about global economy

Published July 12, 2012 3:26pm ET



NEW YORK (AP) — The price of oil is falling as the latest batch of data deliver mixed views of the global economy.

Reports out of Europe on Thursday said borrowing costs rose in Spain and unemployment rose in Greece, stoking concerns about the region’s financial crisis. Meanwhile, the number of people filing for unemployment benefits in the U.S. plunged last week.

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