Oil price outlook – Oil breaks 68, Euro touches 1.22, inventories data out later today

NYMEX futures fell Tuesday to 67.75 a barrel after rising over the 70 dollar barrier on Monday. US crude oil inventories data is out later today and the price fall is in anticipation of another expected rise in inventories. A turn in the inventories number may very well take oil futures up again, if it wasn’t for the Euro. Euro has been in free fall since yesterday on account of a Spanish Bank collapse and seizure.