Crude oil futures fall as dollar strengthens vs the euro

25-Mar-10

The euro has plunged to its lowest level in 10 months on worries that Greece's debt situation would require help from the International Monetary Fund. As the US dollar has strengthened, oil prices have dipped as a stronger dollar discourages investors from buying commodities priced in US dollars. Crude futures on the Nymex for delivery in May fell to US$81.2 while May Brent crude on London's ICE Futures exchange settled a little over US$80. However, bullish gasoline figures on an expected draw of U.S. gasoline stockpiles may improve prices.