Oil prices ended on bad note

[gnutrade.satya]

Oil prices ended on bad note when S&P downgraded the credit ratings of Greece and Portugal, prompting investors to pull cash out of energy markets in a flight from riskier assets.
Joseph Arsenio of Arsenio Capital Management in Larkspur, California said: "The Greek crisis, which is really a currency crisis, is likely to get even worse over time. As the euro comes under pressure, demand could be affected."
Crude Oil for May delivery settled down $1.76 to settle at $82.44 a barrel on the New York Mercantile Exchange.