Still waiting for someone to explain to me how a “Weak dollar” has any effect on the price of oil.Um, OK. Let us say that you're trading thumb tacks for paper clips. Only it turns out that everyone and their brother has all the thumb tacks that they need. Your hoard of pointy thumb tacks simply is, therefore, not in hot demand. So: you get fewer paper clips in return for however many thumb tacks you contract to exchange. Now, the thumb tacks are dolars, and the paper clips are oil ... get the idea?
Only problem. Isn’t the Oil market traded in dollars? Aren’t you trading thumb tacks for well.... different colored thumb tacks? I understand how the market works if, for example, I go with a bunch of dollars to say England. I have to convert them to Pounds at a fixed exchange rate. Do not get how a comity traded in dollars is effected.