The price of oil is retracing its 2004-05 climb rather quickly of late. While some of the rise in oil prices relates to supply concerns from Nigeria and a perceived stabilization in the economy, it is also linked to (more…)
Posts Tagged ‘US dollar’
Oil Passes $50 on Dollar’s Slide
Thursday, March 19th, 2009
I said yesterday that oil may pass $50 per barrel, but I didn’t know it would take just one day to occur. That’s what happens when the Fed announces it will print a few hundred billion more to buy debt. The weaker dollar sent dollar-denominated commodity prices up, with oil reaching (more…)