Weak dollar rush to seek safe haven, crude oil broke a hundred no suspense

's Thanksgiving build-upthe onset of Thanksgiving has given rising oil prices a respiteBefore theclosed, New York Mercantile Exchange (NYMEX) crude futures were slightly adjusted before the $100-a-barrel mark, but almost all analysts believe a triple-digit price is inevitable in the short termNovember 22is Thanksgiving Day, the world's major financial markets closedNYMEX's January crude contract fell to $96.63 a barrel, slightly adjusting to the record high of $99.29 hit on the 21st, as the pre-holiday long-term fund closed its positionsin fact, macro data remainpositive, with the U.SEnergy Information Administration (EIA) reporting on November 21st that U.Scrude inventories fell 1.1 million barrels in the past week, compared with a previous forecast by some agencies of 600,000 barrelsThe news directly boosted oil prices, just because of the absence of a holiday, "the market does not have enough trading to push the price up to $100." Analyst analysis by Summit Energyso far, the factors that block oil prices from continuing to rise will hardly play a role, Galaxy Securities analyst Li Guohong believes that the price of crude oil above $100 has no suspense, oil prices will still oscillate upward next yearThe only possible profit forcomes from the Organization of the Petroleum Exporting Countries (OPEC) or its resolution to increase production on December 5But analysts say the potential underlying profit in two weeks will do a hard time preventing oil prices from breaking through the $100 markPerhaps to maintain high oil prices, the chairman of Libya's national oil company said, "most countries have reached capacity caps and they are responding to market demand." I don't think OPEC can do more"Venezuela's president, Hugo Chavez, agrees that the $100-a-barrel oil price is reasonableit is clear that some OPEC members are reluctant to increase production, even if they believe that current oil prices are being driven only by speculation and geopolitical tensions, but at least high oil prices will not have a negative impact on these exporters Moreover, the demand for rigid heating oil in the U.S winter is enough to provide a solid oil base the dollar index bottoms OPEC has a valid view that $100 oil prices are not caused by an imbalance between supply and demand, but have a more profound context The U.S economy is the most important reason in the mire this week the Federal Reserve said tight credit conditions and high oil prices could slow U.S economic growth next year Specifically, the subprime mortgage crisis is far from resolved, even from a large-scale outbreak of some time, the housing market recession may trigger a recession And the dollar's downward son-in-the-air value has reached the point of a lacklustre nature On November 21st the dollar index fell below the 75 mark against a basket of currencies, a record low The euro is on the verge of breaking through 1.5 against the dollar, an unprecedented strength since its inception On November 23rd the yuan also hit a new high, with the dollar's median price passing through the 7.4 mark, at a low of 7.3992 This, of course, has led to higher dollar-denominated commodity prices, and crude oil is no exception crude oil prices have risen even faster than the dollar has depreciated It seems that gold prices soared again in the early 1970s At the time, the U.S announced the decoupling of the dollar from gold, and the concentration of dollar inflation since the beginning of the century was reflected in the surge in gold prices, with a large number of dollars chasing limited gold, causing gold to rise rapidly from $35 to $400 an ounce now, the global liquidity surplus is now the consensus, and the Fed to stimulate the U.S economy has had to cut interest rates in a row, injecting money into the market, resulting in the continued rise in the flow of the dollar With the dollar continuing to weaken and more dollars chasing assets, crude oil has partially replaced gold as one of the most important havens to avoid currency fluctuations the situation in the Us may be worse now than it was in the 1970s At the time of the War in the Middle East and the surge in gold, crude oil prices soared from $1.30 a barrel to more than $8, but the U.S economy benefited greatly when oil exporters sent oil dollars to buy Treasury bonds But for now, Iran and Venezuela in OPEC countries have proposed changing crude oil from dollars to baskets of currencies, with oil dollars starting to flow into other commodity investments and even to non-US countries such as the Brics (Brazil, Russia, India and China), where higher oil prices could trigger outflows from the United States, dealing a far bigger blow to the U.S economy than $100 a barrel 's Thanksgiving The onset of Thanksgiving gives rising oil prices a respite Before the closed, New York Mercantile Exchange (NYMEX) crude futures were slightly adjusted before the $100-a-barrel mark, but almost all analysts believe a triple-digit price is inevitable in the short term November 22is Thanksgiving Day, the world's major financial markets closed NYMEX's January crude contract fell to $96.63 a barrel, slightly adjusting to the record high of $99.29 hit on the 21st, as the pre-holiday long-term fund closed its positions in fact, macro data remainpositive, with the U.S Energy Information Administration (EIA) reporting on November 21st that U.S crude inventories fell 1.1 million barrels in the past week, compared with a previous forecast by some agencies of 600,000 barrels The news directly boosted oil prices, just because of the absence of a holiday, "the market does not have enough trading to push the price up to $100." Analyst analysis by Summit Energy so far, the factors that block oil prices from continuing to rise will hardly play a role, Galaxy Securities analyst Li Guohong believes that the price of crude oil above $100 has no suspense, oil prices will still oscillate upward next year The only possible profit for comes from the Organization of the Petroleum Exporting Countries (OPEC) or its resolution to increase production on December 5 But analysts say the potential underlying profit in two weeks will do a hard time preventing oil prices from breaking through the $100 mark Perhaps to maintain high oil prices, the chairman of Libya's national oil company said, "most countries have reached capacity caps and they are responding to market demand." I don't think OPEC can do more "Venezuela's president, Hugo Chavez, agrees that the $100-a-barrel oil price is reasonable it is clear that some OPEC members are reluctant to increase production, even if they believe that current oil prices are being driven only by speculation and geopolitical tensions, but at least high oil prices will not have a negative impact on these exporters Moreover, the demand for rigid heating oil in the U.S winter is enough to provide a solid oil base the dollar index bottoms OPEC has a valid view that $100 oil prices are not caused by an imbalance between supply and demand, but have a more profound context The U.S economy is the most important reason in the mire this week the Federal Reserve said tight credit conditions and high oil prices could slow U.S economic growth next year Specifically, the subprime mortgage crisis is far from resolved, even from a large-scale outbreak of some time, the housing market recession may trigger a recession And the dollar's downward son-in-the-air value has reached the point of a lacklustre nature On November 21st the dollar index fell below the 75 mark against a basket of currencies, a record low The euro is on the verge of breaking through 1.5 against the dollar, an unprecedented strength since its inception On November 23rd the yuan also hit a new high, with the dollar's median price passing through the 7.4 mark, at a low of 7.3992 This, of course, has led to higher dollar-denominated commodity prices, and crude oil is no exception crude oil prices have risen even faster than the dollar has depreciated It seems that gold prices soared again in the early 1970s At the time, the U.S announced the decoupling of the dollar from gold, and the concentration of dollar inflation since the beginning of the century was reflected in the surge in gold prices, with a large number of dollars chasing limited gold, causing gold to rise rapidly from $35 to $400 an ounce now, the global liquidity surplus is now the consensus, and the Fed to stimulate the U.S economy has had to cut interest rates in a row, injecting money into the market, resulting in the continued rise in the flow of the dollar With the dollar continuing to weaken and more dollars chasing assets, crude oil has partially replaced gold as one of the most important havens to avoid currency fluctuations the situation in the Us may be worse now than it was in the 1970s At the time of the War in the Middle East and the surge in gold, crude oil prices soared from $1.30 a barrel to more than $8, but the U.S economy benefited greatly when oil exporters sent oil dollars to buy Treasury bonds But for now, Iran and Venezuela in OPEC countries have proposed changing crude oil from dollars to baskets of currencies, with oil dollars starting to flow into other commodity investments and even to non-US countries such as the Brics (Brazil, Russia, India and China), where higher oil prices could trigger outflows from the United States, dealing a far bigger blow to the U.S economy than $100 a barrel (unknown)