Oil News

Crude oil is trading at $82.00 as of 10:12am, GMT with a bearish trend

Crude oil steadies as the dollar strengthens and investors await on news

Oil slipped below $82 a barrel on Friday as the dollar strengthened against the euro on worries over Greece’s debt problems, and after an industry report suggested OPEC exports were rising. The U.S. currency rose against the euro after Greece said it could not achieve promised deficit cuts if its borrowing costs remained high, raising the stakes in its quest for the European Union to help tackle its debt crisis. Crude prices tend to fall with a stronger dollar as investors seek the safer haven of the U.S. currency over that of commodities. A weaker dollar also makes dollar-denominated commodities less expensive for holders of other currencies. Crude oil is trading at $82.00 as of 10:12am, GMT with a bearish trend. Crude

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