Oil prices skid below $78 as Dollar Index trades higher

Oil prices skidded below the $78 mark in trading on Tuesday as the Dollar Index traded a little strength against the Euro and other main currencies. WTI Light crude oil futures for July 2010 delivery expired today, settling down 61 cents, or 0.8%, at $77.21 a barrel on the NYMEX, while in London, Brent crude oil futures for July 2010 delivery fell around one percent to $78.04 a barrel on the ICE Futures Exchange. The Dollar Index, which tracks the US dollar against six major counterparts, stood at 86.079, compared with 86.023 on Monday. “We saw some weakening in conjunction with the bad US housing numbers this morning, and selling in equities and a weakening in the Euro,” said Jim Ritterbusch, president of the trading advisory firm Ritterbusch & Associates. WTI oil price trading above $78, eyes on Dollar Index Oil prices open trading around $72 mark, US dollar gains Euro in Greek tailspin, US dollar firms & oil prices holding out Oil prices trading range at $80 mark on US Dollar Index Brent oil price sinks under $72 as the Euro looses ground Oil prices trading back near $75 amid ongoing Euro concerns Oil prices start week trading around $85 on weak US dollar Oil prices trading steady, eyes on US dollar index Crude oil prices trading lower on stronger US dollar Oil prices trading steady after Thursday loss, eyes on dollar Brent oil trading once again close to the $80 mark WTI oil price trading higher on US dollar & supply data Brent oil trading back at $71 level as Euro slides lower Crude oil prices fall four percent on gloomy US jobs data WTI oil price trading down 3 percent on firm US dollar Index WTI oil price skids under $70 as US dollar firms up Oil prices trading up, eyes on currencies euro & dollar Oil prices again being lead by dollar and euro swings Light oil prices at $83 in early trading, US dollar dips Light oil price trading up as US dollar takes a knock

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Oil prices skid below $78 as Dollar Index trades higher