The American Petroleum Institute reports that demand for oil fell 4.3% in May, the lowest demand for that month in 10 years. Crude is dipping again, back toward session lows, now at $69.40. Weekly inventory data is due in 30 minutes.
The reflation trade is suffering again, helping undercut EUR/USD. We trade now at 1.3863 as US equioties slip a further 0.5%.
