Crude Oil Futures Tumble to a Seven-Week Low as Dollar Surges

(Bloomberg) — Crude oil tumbled to a seven-week low as the dollar surged on speculation European governments will struggle to fund deficits, reducing economic growth and prompting the selling of commodities.

Oil dropped as much as 5 percent as the euro headed for a fourth weekly loss against the dollar and yen as investors bet rising budget deficits in nations such as Greece, Portugal and Spain will hamper the region