Crude oil futures have come off overnight highs attained on tensions in Egypt. The front-month crude contract is trading just below $87.00 a barrel over Europe. Dollar-denominated commodities are being weighed down by a stronger greenback, which has made oil dearer on the international markets. This, coupled with a higher risk aversion, has countered the bullish momentum attained last night. Commodity traders are keeping an eye on the monthly US and Canadian trade data, which is expected to be released in a few hours.
