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Commodities Briefing - Categorized | Oil, Price Watch more

U.S. oil prices: Let the good times roll

Posted on 11 October 2013

A funny thing happened on the way to the euro. When first introduced to the global financial markets in 1999, it began to appreciate in value compared to the U.S. dollar (USD). Around this time, West Texas Intermediate crude oil was trading below $20 a barrel. As the dollar lost value, oil began to rise. Is this a coincidence?
The dollar began to devalue against the euro and other major global currencies in 2003, primarily as a result of the Iraq War costs. By year-end 2002, the dollar had weakened by nearly 20 percent and the price of crude had jumped more than 30 percent………………………………………..Full Article: Source


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VRS - who has written 37241 posts on Opalesque Commodities Briefing.


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