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News Link • Economy - International

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

• By SARAH KENT
 

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.

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