Crude oil drops below $85.00

FXstreet.com (Barcelona) - Crude futures have come under light selling pressure once again today, following yesterday´s modest gains on a smaller-than-expected increase in US inventories. The front-month contract has dropped more than $0.50 since open to trade currently at $84.60 a barrel.
Overall market sentiment remains cautious today, as continued political unrest in the Middle East is coupled by the news of two Iranian warships moving through the Suez Canal which can be viewed as an implied threat to Israel and contributes to rising tensions in the region. The possibility of oil- supply disruption remains quite low however, with analysts not expecting any noticeable effect on the world market.
Looking ahead, commodity traders will most likely take cue from upcoming US jobless claims release as well as the newly minted Bloomberg Consumer Comfort Index in the opening hour of the NY session.

(Source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=2dc7db88-24d9-4bdc-9d66-153942f95e9d)