Oil hovers above $120; stocks and euro fall

Brent crude prices hovered close to 32-month highs on Tuesday as markets focused on fears that unrest in producer states in Africa and the Middle East could disrupt supply, while stocks snapped a five-day winning streak.

The euro pulled back from a five-month high against the dollar, hurt by a one-notch downgrade of Portugal’s credit rating by Moody’s Investors Service, which said the country’s incoming government would need to seek financial aid.
Portuguese government bond yields traded around euro lifetime highs.

This story is for NewsDay subscribers.