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Posted On: 12/21/2012 1:33:46 AM
Post# of 28539
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Posted By: testuser
SINGAPORE (Reuters) - Brent crude fell towards $109 a barrel on Friday after talks in the United States to reach an agreement to resolve a budget crisis stalled, reviving worries about demand in the world's biggest oil consumer. Republican lawmakers failed to back an effort to head off $600 billion worth of indiscriminate tax hikes and spending cuts that threaten to push the U.S. economy into recession next year. The dramatic twist, coming after growing optimism just a few days earlier of an agreement, weighed on Asian shares, the euro and base metals. Brent crude slipped 57 cents to $109. ...

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