This could help bring down the US dollar, which would support higher oil prices.
The UK pound has continued to strengthen and is now at 1.105 USD. It's 6% up from the Monday low and 5% up from the intervention low. The Euro also seems to have bottomed this week.
If the Fed will just slow down the interest rate hikes it will bring down the dollar.
https://www.marketwatch.com/investing/index/dxy
Brent oil at $88.50 this morning. $8/bbl gap to WTI is too much and should tighten.
US Dollar Index
US Dollar Index
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group