There has been a recent fall witnessed in the prices of crude oil. It has fallen to a position of $112 for lower than $112 for a barrel. This has raised concerns over the Eurozone crisis as it hinted towards an even more unstable position for Italy.

A coalition deal wasn't agreed on for Greece and it has sparked fears for a global recession.

The gold and dollar have seen a rise in recent times, as risky assets like base metals and others have see a fall. The investors are very watchful of where to put their money right now, and are steering clear from any risky deals.

There was a 3% fall recorded in the Brent Futures. Crude oils in U. S saw a fall of 60% per barrel.

"The relatively good news from Greece has been offset by new worries about Italy", "Economic news around Italy and Greece is dominating the market", revealed Christophe Barret, an analyst.

Asian markets saw a slightly better dawn and they seemed to be less affected by the turbulences in the world. There was a fresh hope given to people by the Greek Prime Minister, Mr. George Papandreou as well as Antonis Samaras, the opposition leader. They have agreed upon forming a new coalition government for taking effective measures to control the Eurozone debt crisis which has now started affecting the day to day lives of the people of the member nations.

The borrowing costs in Italy seemed to have risen sharply, raised to more than 100 basis points since last year. The crude oil market is also seeing turbulences and it's a matter of time to see what the events turn out to result in.