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OSA Energy Blog : Oil prices heading for 115- 125 as dollar weaken in summer

I warned on this blog last Sept that aggressive rate cuts can not stop housing price slump , but only drag the dollar to new low ( 1.55-1.65 EURO, 90- 100 Yen, and soaaring oil, commodities price, and inflation, which raises the US import, expanding US trade deficit, the interest ratea spread and trade deficit will drag dollar even lower.
Dollar only can be supported by Fed rate hike to fight the inflation.
Fed choose to ignore inflation, while switch to rate cuts further help currecny speulators to dump dollar for higher interest rate currency EURO, Pound.
Dollar can rebound once Fed stop rate cuts.
Oil price has benn benefited by soariing US and global housing, auto, travel market demand for heating oil, fet fuel, gasoline in summer, and weak dollar, further help by rate cuts and stimulus package
to support the business and conumer demand.
Oil pricewill challenge 115- 125 , gasoline and heating to 355 this summer.
detaisl can be found
www.osawh.com/currency.html
www.osaglobalstrategicmanagement.com/oilToday.html
Comment by Warren Huang Wal Street Journal market beat blog- April 22, 2008 at 1:16 pm

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