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Strong dollar could send oil to $20
That's the view of analysts at Morgan Stanley. In a report published Monday, they say a 5% increase in the value of the dollar against a basket of currencies could push oil down by between 10% and 25% -- which would mean prices falling by as much as $8 per barrel. Crude oil prices are already trading at around $31, near their lowest levels in 12 years. Prices tumbled over 6% on Monday, and are 16% down so far this year. Oil has dropped more than 65% since a peak 18 months ago. Analysts have attributed the slump to a global supply glut brought about by slowing demand and high production. ut the report by Morgan ... (full story)
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