The US dollar strengthened against its major rivals today due to heightened concerns about the euro-zone debt, allowing EUR/USD to post a fresh 7-week low. A stronger greenback has pulled crude prices to the downside, since dollar-denominated commodities including crude oil has become dearer on the international markets. Additionally, an increase in crude stockpiles last week has further added pressure on the supply side. The front-month crude contract has eased to $84.22 a barrel on the Asian session, slightly off from the opening price.
