Oil prices fell on Monday with the demand outlook uncertain as the market awaited the outcome of a European Union summit on containing the eurozone debt crisis, analysts said.

New York's main contra

Italy on Sunday unveiled a draconian austerity programme worth 20 billion euros ($27 billion) in a bid to avoid bankruptcy for the eurozone's third largest economy but warned a new recession was loomi

Proposals to double the size of the IMF as part of a broader international response to Europe's debt crisis ran into resistance from the United States and others, burying the idea for now and putting

G20 nations are committed to ensuring the International Monetary Fund has adequate resources to deal with the debt crisis, a draft statement from finance chiefs meeting in Paris said on Saturday.

The

China and the United States urged Europe's leaders to prevent the euro area debt mess from spreading, underlining the international alarm over a crisis now threatening Italy, the zone's third-biggest