Crude oil traded below 70$ a barrel during yesterday's trading session. This level has not been reached since December of last year. Oil prices are influenced by the Dollar, similar to other commodities. Therefore any strengthening of the Dollar leads to weaker Crude Oil prices. The positive EUR/USD trading at the end of yesterday supported Spot Crude Oil prices and the commodity is currently trading near $74.
As for tomorrow, Crude Oil will continue to be influenced by the Euro. Traders are advised to follow macro European data releases and later from the U.S. economy. Unless new fears about Europe's fragile economy are published, Crude Oil prices may continue to advance and follow suit with the Euro.