The strengthening dollar has certainly had something to do with the falling price of oil.
The US currency has been rising against the pound and the euro, not because everyone has suddenly decided that the US economy is very strong, but because the European economies may be in worse trouble than had been thought.
This means that oil prices can be depressed both by
1) the strong dollar and
2) the continuing concern about whether the US slowdown will hit demand for the commodity.
Monday, November 17, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment