It appears as if the price of Crude Oil has received a mild boost from the falling USD in yesterday's trading. Upon meeting heavy resistance at the $87.00 price level, the price of oil then dropped below $84.50, but has recent recovered and is trading at $85.70. The value of the US Dollar is driving these price fluctuations but little news will be pushing the USD in today's trading.
With hardly any fundamental data releases coming out of the United States today, the value of the USD most likely will not change drastically before the end of this week's trading. This supports the notion that oil prices could continue to rise slowly and steadily throughout Friday's trading. However, should the Dollar experience sharp price movements in either direction, there will undoubtedly be a correlated price movement for Crude Oil.