GREY:URPTF - Post by User
Comment by
GROGon Aug 29, 2005 10:38am
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Post# 9475988
RE: Crude oil is above $70 per barrel
RE: Crude oil is above $70 per barrel"The real reason is the demand from China and India"
Let's not forget that the currency used to trade oil on the world market is in US dollars. One of the underlying and fundamental reasons crude is so high is that the value of the US greenback is dropping against major currencies worldwide. Something someone should mention to Lou Dobbs on CNN. He seems to think it's the fault of the Arabs.