Yesterday I was told by a financial planner, who came to our office for a brown bag seminar, that oil is bought and sold in dollars. The weaker the dollar the higher the price of oil. Any additional upward movement in the price of oil comes from the speculators. So if the dollar keeps losing value, oil prices will rise. The way out is if the Fed raises interest rates.
“So if the dollar keeps losing value, oil prices will rise. The way out is if the Fed raises interest rates.”
The dollar rose against the yen a few hours ago.
Don’t blink though.