"
Oil is not going up because things are getting better in the economy. Quite the contrary, Oil is going up because commodities are priced in US Dollars.
Oil is a tell on just how bad the dollar is. If you want to see a better view of our economy, consider looking at Natural gas. While Oil is up over 30% YTD, Nat Gas is down over 30%.
" —StockGawk: Nat. Gas VS. OIL a tale of two tapes (via financegeek)
I see this as the billions of dollars that the Fed pumped into the system looking for a home. The cash ran through stocks and bonds, and now is pumping up oil. Whether this maneuver works depends on how the market interprets it. I think that it’s Soros’s reflexivity in action.
