Are A Group Of Countries Secretly Planning To Stop Trading Crude Oil In US Dollars?
Independence Day No, not July – but we refer immediately to the article in Britain’s The Independent newspaper, which on Tuesday laid the grounds for a rebound in commodity and stock markets as it “revealed” secret plans allegedly made by key officials from China, Japan, Russia and Brazil. The author claims that Persian countries are laying the foundations for a nine-year plan to exclude the role of the dollar in the pricing of crude oil. If you get chance we encourage you to study its content and style. See if you notice the conscientious effort the author goes to in order to convince anyone doubting its integrity that there is no point in checking, because it’s all true. We’re watching eagerly today to see if the Obama administration will issue a threat that it will refuse to use oil to power its nation’s automobile use! The dollar suffered as a result of today’s fanciful story and spurred various other actions into play. Commodity prices rallied. The price of copper rose having face
Related Questions
- Why are Saudi Arabia and other OPEC countries allowing the price of crude oil to fall so dramatically? Can they not control the price of oil by adjusting production?
- Are margin offsets available for customers who hold positions in the CME Group crude oil contracts and the DME?
- Why crude oil prices climbed on Tuesday and settles for 78 dollars?
