The price of crude oil fell by just over $1.50 a barrel yesterday, eventually reaching as low as $83.20, due to concerns among investors regarding last week's agreement among EU leaders to combat the euro-zone debt crisis. Opposition to the agreement from Finland and the Netherlands has led to risk aversion in the marketplace, which turned oil bearish. Today, oil traders will want to pay attention to how the euro performs against the US dollar and yen. Should the common-currency continue to move downward, oil could extend its bearish trend as a result. At the same time, any upward movement by the euro could lead to short-term gains for crude.

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