Oil Prices Fall (SCO, DBO)

Oil prices have fallen in trading today as fears about the sovereign debt crisis in Europe have intensified. Crude oil for delivery in June on the New York Mercantile Exchange dropped by $0.34 to $82.10 a barrel, while Brent crude for delivery in June on the ICE Futures Exchange in London dropped by $0.38 to $85.40 per share. Meanwhile, in New York, the ProShares UltraShort DJ-UBS Crude Oil (ETF) (NYSE: SCO) is down by 1.06% to $12.15. On Tuesday, the PowerShares DB Oil Fund (ETF) (NYSE: DBO) had closed 0.07% lower at $28.27 in after-hours trading in New York.