Oil: WTI Crude Prices Are Plunging (Again)

It's all about the buck. The spot dollar index is up 1.33% at 97.29, the euro is down to 1.0885.
NYMEX front month (Jul.) $58.46 down $1.26.
From ZeroHedge:

It appears the oil-spoofing machines are unhappy with the 'good' news this morning on orders and US housing - or perhaps they read this - but for now, WTI Crude front-month futures are back below $58.50, down over 2% on heavy volume...