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European uncertainty pushes back oil prices

By Associated Press
December 17, 2011
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Europe’s financial woes pushed oil prices lower Friday for a third straight day. The eurozone region continues to wrestle with a mountain of debt, and the only cure at hand appears to be a wave of severe spending cuts and pleas for more international aid. European Union leaders have hammered out a new plan for more central financial control and requirements for balanced budgets, but experts say those measures will do little to reduce current debts.

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