The prices of crude oil dropped below $82 per barrel for the second consecutive day as the Dollar rebound against the Euro.

A rumor about Greece failing to secure financial assistance from the European Union was also spread. An inflated U. S. currency stopped the investors from buying commodities priced in Dollars, as they want to evade inflation. The Energy Department said that U. S. crude inventories escalated last week to the highest since August.

Andrey Kryuchenkov, an analyst with VTB Capital in London said, "Oil is dropping as these persisting Greek jitters push up the dollar against the euro. There is some support at around $80.50 a barrel at the moment".

The Dollar operated at $1.3568 against the Euro at 10:10 a. m. in London as compared to $1.3608 the previous day. Since the beginning of February, Euro is headed for its biggest weekly decline against the dollar.

45% of the analysts and traders revealed that oil will drop through March 26, while 32% forecasted that futures will climb. 46% of the respondents had predicted that there will be a decline in futures.