Brent steadies around $108 as risk aversion eases | Reuters

(Reuters) - Oil prices stabilized on Monday as economic data helped ease concerns over a looming recession but investors worried over the euro zone debt crisis and the outlook for global growth.

Stock markets .FTEU3 rallied and safe-haven assets such as gold, the dollar .DXY and the Swiss franc fell after last's week's wild swings.

But analysts were cautious over the state of global oil demand and awaited first indications from the euro zone on second-quarter economic growth due on Tuesday at 0900 GMT.

German Chancellor Angela Merkel and French President Nicolas Sarkozy meet in Paris on Tuesday to hammer out a solution to the debt crisis threatens to engulf the economies of Italy and Spain and heighten strains in money markets to levels not seen during the 2008 crisis.

via reuters.com