(RTTNews) - The price of crude oil slipped below $97 Monday morning as talks over Greece's second bail-out plan continued.
Light Sweet Crude Oil (WTI) futures for March delivery, were down $0.92 to $96.92 a barrel. Last week, oil ended losing nearly 2 percent impacted on demand concerns after U.S. oil stockpiles increased more than expected last week
This morning, the U.S. dollar moved back near a 2-week high versus the euro and continued to level off from its 2-month low against sterling. The buck was moving higher the Swiss franc, while trading flat against the yen.
In economic news, euro zone investor confidence improved for the second consecutive month in February, according to a survey by the think tank Sentix. The confidence index rose sharply to -11.1 from -21.1 in January. Economists were expecting the indicator to climb to -16.5
During this week, traders will look to the crude oil inventories data from the API, due out Tuesday after the market hours, and the EIA due out the subsequent day.
