Brent below $101 on Greece, Goldman outlook cut

From reuters.com

Brent crude futures slipped below $101 a barrel on Tuesday, squeezed by growing fears that a Greek debt default could spread across the banking system and threaten the global economy. Brent crude for November delivery LCOc1 was $1.17 lower at $100.54 by 1104 GMT, after hitting an intraday low of $100.42 a barrel, which was within striking distance of an eight-week low. U.S. crude CLc1 fell $1.73 cents to $75.88 a barrel after reaching an intraday low of $75.84. Goldman Sachs cut its 2012 Brent crude forecast to $120 a barrel from $130 a barrel, joining a growing chorus of increasingly bearish analysts. Stock markets ... (full story)