The "Oil Prices" thread.

[j_espo1]

Wanna make a wager on that? $50 says we don’t see $5/gal regular unleaded here in WNY in 2008.

Most indications are that the dollar has hit rock bottom and has started to recover. The fed will probably make a 1/4 point cut at their next meeting and then hold, which should cause the dollar to start climbing. EU economists are signaling they are going to have to start cutting rates as well, which will also help the dollar. The dollar has been gaining on the Yen and started gaining on the Euro at the end of last week.

As the dollar climbs oil will go down.

1 half way decent terror attack on a pipline, or tanker, or a huge hurricane through the Gulf and prices will skyrocket. If Al-queda or some other terrorist group wanted to make a statement right now they could really make a big one.