Oil prices slid today as the dollar jumped against the euro on heightened fears about a debt crisis engulfing Greece and Portugal.
By late morning, US crude was down $1.09 to $80.82 a barrel, while London's Brent crude shed $1.11 to $79.59.
A strengthening US currency makes dollar-priced oil more expensive for buyers using weaker currencies, hitting demand.
Later today, the US Department of Energy (DoE) will release its weekly inventory report for the week ending March 19. Market expectations are for an increase in crude oil stocks of 1.3 million barrels, indicating weaker demand.
