Yes, clearly a 25% rise in the euro ($1.28 to $1.60) caused a 130% spike in oil prices (from $60 to $140/bbl) in 2007/8.These charts show very similar patterns in the rise of both Oil and the €uro against the Dollar, a clear sign that the record 147 $/barrel had much to do with the weakness of the greenback.
Showing posts with label weak dollar. Show all posts
Showing posts with label weak dollar. Show all posts
Data abuse at The Oil Drum
This is just sloppy:
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