MW: Price of crude-oil futures fall as dollar gains
By Kate Gibson
NEW YORK (MarketWatch) -- Crude-oil futures declined Tuesday, lately off nearly $2 a barrel, as worries about Europe's debt troubles had investors flocking to the U.S. dollar, helping push the euro to a four-year low. "A stronger U.S. dollar is undermining demand for oil as a hedge against inflation," noted analysts at Action Economics. The contract for July delivery fell $1.84, or 2.5%, to $72.13 a barrel on the Comex division of the New York Mercantile Exchange.
