NEW YORK, April 3 (UPI) -- Crude oil price futures held close to $104 per barrel Tuesday, as the tail began to wag the dog in European energy markets.
With Europe predicted to skid into a double-dip recession, traders are viewing oil as having the potential to slow down Europe's manufacturing sector even further. Unemployment in the eurozone ticked higher to 10.8 percent in February, Eurostat said this week. That is offsetting the pressure on prices put into place with the European Union agreeing to impose sanctions against Iran for its suspected nuclear weapons program.