The dollar was firmer off the back of surprisingly strong U.S. gross domestic product figures on Friday, making crude oil and other commodities less attractive.

FORBES: Market Scan

Yet the lion's share of oil-price weakness is a by-product of an increasingly shaky global economy.

ECONOMIST: Petrol prices

The Atlantic hurricane season is approaching, significant since the U.S. receives much oil from the Gulf of Mexico and oil and refined product from the Caribbean and Latin America.

FORBES: HSBC Sees Potential For Near-Term Dip In Gold, Otherwise Remains Bullish

'Tis also the season to replace your facial cleanser with a gentler, oil-based product, such as one of Shu Uemura's Skin Purifiers, which dissolve dirt and makeup without stripping natural oils.

WSJ: Maintaining the Gloss

Lingering concerns over the recession in the euro zone, an ongoing economic slowdown in China and front and center concerns about the U.S. fiscal cliff are pressuring forecasts for global gross domestic product and demand for crude oil.

FORBES: Crude Oil Wants To Slip Below $80 Again, Test $78

You all, of course, are familiar with the Cushing-to-the-Gulf pipeline, why that is necessary -- because we have actually a glut of oil that's bottled up because of the lack of infrastructure necessary to move the product to the Gulf, to the refineries there.

WHITEHOUSE: Press Briefing

"It's not just more people driving, it's also every product that you buy is made of plastic or synthetic materials out of China is made with oil, " said Patrick Chovanec of Tsinghua University.

CNN: Oil increases to highest level since 2008

While the developed world, led by the U.S., staggered through a global credit crunch, China's gross domestic product grew 11% in the first quarter, and the Gulf Cooperation Council--the oil-rich federation of Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates--averaged nearly 7% growth in the same period.

FORBES: The New Silk Road

As for the current position, Scotland's fiscal balance still requires all its oil and gas revenues to keep its deficit to 5% of gross domestic product.

BBC: Scottish independence: Fjords flowing with funds