If the U.S currency market is not doing well and is declined then that indicates that it attracts more investment to the Oil market and as a result it makes the crude more cheaper for the investors in other currencies. Yesterday, the U.S Dollar was record down against the Euro as the Eurozone inflation data rose to an all-time high. This attracted many investors towards the Oil market. The oil prices are record-high. It is $115.54 a barrel which is the highest since it began its trading in 1980’s. People were expecting an increase in crude stocks and gasoline is going down, but if the gasoline stocks start dropping before summer, then it might be a real trouble to the U.S economy. Crude Oil for the month of May delivery is gained as much as 61 cents on the New York Mercantile Exchange. This is the consecutive three-day winning match for OIL.
No doubt, Oil is a revenue-generating source for the world-economies but then if it is raising more and more, then there may be some good trouble to the U.S economy because it is the first victim as weaker dollar attracts more demand for OIL market. Lets hope for the best things to happen
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