“We’ve broken this year’s high on improved sentiment after the drawdown in gasoline inventories. But inventories did not decrease due to rising demand, which is still weak, so the risk is we revert to a 68-75 dollar range.”
Eliane Tanner, commodity strategist at Credit Suisse Group AG
Well, I think everybody knows that this recent rise in oil futures is basically due to a very weak US dollar. At least, most of the institutional comments on the oil prices seem to reflect that view.
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