A big build in crude inventories has oil futures trading on the $70-handle. Small consolation to those of us who’s college and retirement accounts have been vaporized in the last month, but it is an important counterweight to help offset the economic drag from the credit crisis.
EUR/USD is only modestly lower after the late-London fixing, trading at 1.3400. Stocks are diving once again, though, down 300 points.
