Monday, May 05, 2008

Drunk The Milkshake

While fairly volatile so one shouldn't make too much of day to day fluctuations, I'd say the oil price spike is notable because it's happening in a time when the dollar has been rising a bit. Normally quite a lot of the oil price fluctuations (and "quite a lot" is an imprecise blogger term) can be explained by fluctuations in the dollar, with oil prices rising as the dollar declines relative to other currencies, but this time they're moving apart.