European concerns about broad-based economic volatility and fretting over supply-side shocks helped send crude oil prices sharply lower early Thursday. Crude oil prices touched $80 per barrel on Monday after the U.S. government increased sanctions pressures on Iran and Venezuela. Markets have since bounced down from that ceiling amid signs of an economic downturn and early suggestions that members of the Organization of Petroleum Exporting Countries are mindful of the potential for additional losses from member states Iran and Venezuela. Minutes from meetings of the European Central Bank on Thursday revealed concerns about a spillover impact from volatility in overseas markets. “A surge in volatility in U.S. stock markets in early February highlighted the current fragile market sentiment,” the ECB’s statement read. U.S. markets […]