Crude futures are being influenced by a recent WSJ report concerning the weakness of euro-zone banks which has led to a decline in the euro common currency in relation to the greenback, making imports of dollar-denominated commodities like oil more expensive for most nations. What’s more, concerns over the US recovery are ever present as optimism over Friday’s upbeat NFP report begins to fade. High US stockpiles also continue to weigh heavily with the typical summer driving season coming to an end and traders focusing on recent Hurricane activity over the Atlantic and Gulf of Mexico which may or may not affect production.

Tue, Sep 7 2010, 06:54 GMT
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