Brent falls below $114

epa00878053 (FILE) - The Euro sculpture pictured under the headquarters of the European Central Bank (ECB) in Frankfurt Main, Germany, 13 January 2005. The ECB sees its mission to guarantee stability in prices at a rate of price increases under 2.0 percent. Due to the relaxation at the oil prices, the inflation in the euro zone is at 1.8 percent. On Thursday, 7 December, the ECB will publish new prognosises that soften the 2007 expectation of 2.4 percent. EPA/ARNE DEDERT

Euro zone worry: a potential political vacuum in Italy has revived fears over instability in the region

ARNE DEDERT

News Wires

 26 February 2013 06:23 GMT

Brent crude futures fell by more than a dollar to one-month lows below $114 a barrel on Tuesday, hit by worries over demand growth as a potential political vacuum in Italy revived fears over instability in the debt-plagued euro zone.

The uncertainty in Rome, along with soft manufacturing data from China and concerns the US may rein in its economic stimulus, are clouding the global economic outlook and could erode oil's modest price gains so far this year. Investors exited riskier assets because of the uncertainty, pushing down Asian shares and base metals along with oil, while gold rose.

Brent crude hit a session low of $113.30 a barrel, its weakest since 29 January, and was down 61 cents at $113.83 early on Tuesday. oil slipped 54 cents to $92.57, after touching…

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