Ongoing bickering between Russia and Ukraine over transit fees for pipelines could disrupt oil supplies to Western Europe from Russia, the Kremlin warns the EU. Previous disputes have been over natural gas, but this one is crude oil-related.
There seems to be a modest bout of risk aversion this afternoon as the weekend terror attack (and promises of more) unrest in Iran and the Russian oil situation all attract attention.
EUR/USD trades at 1.4385.
