Oil sinks on data, healthcare ruling

Downward pressure: US prices continue slide

Reuters/Scanpix

By News wires

 28 June 2012 22:46 GMT

Crude oil futures fell as much as 3% on Thursday, and are on track for the worst quarterly performance since the 2008 financial debacle on worries that an EU summit will not find durable solutions to the euro zone crisis.

Lower US equities following the US Supreme Court decision upholding key elements of President Barack Obama's healthcare reform law added to the day's pressures on crude futures, Reuters reported.

Despite recent gains, Brent crude futures were on track to end the second quarter down about 25%, the largest drop since the last quarter of 2008, which was the height of a financial crisis.

US crude futures, meanwhile, were headed for a drop of about 24%, also the biggest quarterly loss since the last quarter of 2008.

In London, Brent crude oil futures for August…

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