16 July 2019, 01:15
The main driver at this time is the fed's change in fiscal policy to cut interest rates. Trump's America first policy to increase exports and manufacturing needs a weaker dollar, and looks like the fed is finally caving in to the pressure. Trouble is to continue stimulating secondary industry they need cheaper oil and the Saudi's don't want to give it. In a weird twist of fate Russia is now siding with OPEC to keep the price high as it's economy would suffer more from less oil revenue, or is that the real reason behind it? Or maybe a two pronged tactic? Any further Iran tensions will also push the price higher.