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re: Future oil price?
Posted on 5/9/23 at 7:41 am to Westbank111
Posted on 5/9/23 at 7:41 am to Westbank111
Oil price and US greenback dollar are inversely related. When the Fed increases interest rates, the USD gains strength in the global market. Investors seek the better (risk free) returns of US treasuries and divert less investment toward oil. This is one reason for recent oil price drops.
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