By IRNA,
Sydney : Crude oil futures fell in Asian trading Wednesday as the US dollar hit a 12-month high against the euro on Greece’s sovereign debt woes and traders predicted bloated US oil inventories swelled further last week.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in June traded at $82.60 a barrel at 0624 GMT, down 14 cents in the Globex electronic session. June Brent crude on London’s ICE Futures exchange was down 1 cent at $85.66 a barrel.
Crude futures had taken a battering in US trading Tuesday, settling down 4% as investors moved out of riskier assets like equities and commodities and into the safe haven of the dollar.
The Dow Jones Industrial Average fell 2.0% Tuesday, its largest one-day drop since Feb. 4.
Traders were also watching for confirmation from the US government that crude stocks in the US, especially the key delivery point for Nymex crude at Cushing, Okla., have continued to build.