Crude Oil is trading today in the European session below the $82 level.
At the start of the week in Europe, the oil market saw a significant decrease in prices, driven by renewed attention on the fundamental factors influencing the market.
This change in focus occurred as tensions between Israel and Iran seemed to lessen after a relatively minor strike by Israel against Iran.
The negative sentiment in the crude market was partly fueled by economic worries, particularly related to a significant increase in U.S. stockpiles and the Federal Reserve's hawkish stance, which strengthened the dollar.