Outstanding Oil

oilbarrellThis past week was the 12th straight that the US dollar has strengthened against a basket of six major world currencies. As a result, the price of oil has been falling. As oil is quoted in US dollars, as currencies weaken against it, oil becomes increasingly expensive in those currencies. Other reasons include massive increases in US supply due to fracking and profound disarray among OPEC members.

Share This Post
Facebook Twitter Email

Speak Your Mind


This site uses Akismet to reduce spam. Learn how your comment data is processed.