What happens to the price of oil if the US dollar declines?

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What happens to the price of oil if the US dollar declines?

2007-01-29 12:03:42 · 3 answers · asked by Anonymous in Social Science ➔ Economics

3 answers

As the dollar declines, Oil prices rise. Because we would need more of the $ to convert to other currency and buy their oils...

example, If you look at the current U.S dollars it is rising against other currency, therefore our oil prices has been dropping. Keep in mind there's also other factors.

2007-01-29 12:22:09 · answer #1 · answered by Rain L 5 · 0⤊ 0⤋

Oil is currently priced in dollars, so the answer is "nothing"

2007-01-29 20:12:26 · answer #2 · answered by my_evil_twin_41 3 · 0⤊ 0⤋

It goes down. There are several considerations to go through to draw this conclusion.

2007-01-29 20:10:20 · answer #3 · answered by apshawnhunt 2 · 0⤊ 0⤋