The price of crude oil fell on Wednesday, as fears of an economic slowdown in Europe prompted investors to shift their funds away from the commodity. With the USD once again rising, crude oil has become less attractive of an investment. A strong US dollar makes oil more expensive for international buyers and drives investors away.

Crude was still able to stay well above the $100 a barrel level, as continued tensions between Iran and the West kept supply side fears on investors’ minds. Today, with plenty of euro-zone news forecasted to impact the markets, traders can expect another hectic day for oil. Any increase in the value of the US dollar is likely to send the price of oil down further.