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Oil near $88 amid European financial turmoil
Oil prices lingered near $88 a barrel Thursday in Asia as a fresh wave of sour economic news from Europe lent weight to expectations that the region's slowdown will keep demand for crude subdued.Benchmark oil for July delivery was up 28 cents to $88.10 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract slid $2.99 to close at $87.82 on

INSIGHT - For Spanish workers, Europe's not working

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Spain debt woes spur flight out of risk assets

Shares and commodities slid while the euro fell to its lowest in almost two years against the dollar on Thursday, as surging borrowing costs in troubled Spain heightened fears that it would not be

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Europe worries stalk Wall Street; Dow loses 161
, driving the yield on the benchmark 10-year U.S. Treasury note to its lowest point since World War II.

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Oil headed for biggest monthly drop since 2008
The price of oil is headed for its biggest monthly decline since December 2008.

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Europe proposes banking union to ease debt crisis

As Europe's debt crisis intensifies, top officials say the continent urgently needs a central authority with the financial muscle to fix its broken banks.

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European Commission Videos

European Council Prez meets Ma...
European Council Prez meets Manmohan Singh

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