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- Fed Letter: Crude Awakening: Behind the Surge in Oil Prices
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Here is an economic letter from Stephen P. A. Brown, Raghav Virmani and Richard Alm at the Dallas Fed: Crude Awakening: Behind the Surge in Oil Prices A good starting point is strong demand, which has pushed world oil markets close to capacity. New supplies haven’t kept up with this demand, fueling expectations that oil markets will remain tight for the foreseeable future. A weakening dollar has put upward pressure on the price of a commodity that trades in the U.S. currency. And because a large share of oil production takes place in politically unstable regions, fears of supply disruptions loom over markets….
Original Source: feeds.feedburner.com/CalculatedRisk
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29 May, 2008| housingblogs |
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