Crude oil dropped for the first time in three days as the US dollar climbed against the euro and the distillate supplies were also reported high, according to a report in the World's biggest energy consumer market.

Crude Oil rebounded after the American Petroleum Institute declared that supplies of distillate fuel, which is used to heat oil and diesel, has inclined further to a $1.28 million barrels last week. Further getting into details, the U. S. Energy Department reported that the stockpiles dipped.

However looking at the crude oil level we can make out that the economy is still going bleak. Relatively the supply constraints and the demand logic are also going weak in the downturn.

Crude oil in March declined at 46 cents to $76.87 a barrel at the New York exchange. The euro is trailing a nine-month slow with dollar as according to the Greece diplomats, not a single euro should get into the territory of Greece. The U. S. currency is trading at $1.3568, from $1.3607.

The strong currency, dollar is hampering the demand for commodities as Oil is hovering in the range of $72 and $78 during the last few trading sessions.