Fundamentals point to higher oil prices
Posted: Tue Jul 05, 2016 10:16 am
Brexit caused a spike in the U.S. dollar, which you can see here: http://www.marketwatch.com/investing/index/dxy/charts
Oil trades globally in U.S. dollars, so when the USD goes up the price of oil goes down.
Long-term however supply/demand fundaments determine commodity prices. See article below.
http://www.businessinsider.com/oil-pric ... ing-2016-6
Oil trades globally in U.S. dollars, so when the USD goes up the price of oil goes down.
Long-term however supply/demand fundaments determine commodity prices. See article below.
http://www.businessinsider.com/oil-pric ... ing-2016-6