Any idea on how much of the oil rally is USD weakness?

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bobs
Posts: 221
Joined: Mon Apr 26, 2010 2:32 pm

Any idea on how much of the oil rally is USD weakness?

Post by bobs »

the near term oil fundamentals haven't changed that much although prospects for the future have but is there any way to quantify the recent run up as it relates to the USD?
dan_s
Posts: 34648
Joined: Fri Apr 23, 2010 8:22 am

Re: Any idea on how much of the oil rally is USD weakness?

Post by dan_s »

See: http://www.marketwatch.com/investing/index/dxy/charts

Not much impact from the dollar

WTI shorts are covering on each dip as they see supply & demand balance just ahead.
Dan Steffens
Energy Prospectus Group
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