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IPFS News Link • Economy - International

For Europe, Costly Oil Could Be 'the New Greece'


Concerns over the surging cost of Brent crude are growing as analysts warn that Europe could be at the center of an oil-price shock.

Rising oil prices have leapt ahead of the long-running euro-zone debt crisis as the most pressing problem facing the global economy, according to some analysts. HSBC labeled oil's remorseless climb "the new Greece," in a nod that worries over global contagion from Europe have receded for now.