Brent oil price over $85 as US dollar Index gets hammered
Brent oil prices open trading over the $85 mark this morning in Asia as the US Dollar Index gets hammered lower, suggesting that US dollar currency weakness will drive commodities including oil, gold and silver higher.
Brent crude oil prices fell below $100 a barrel for the first time in five months on Tuesday on expectations that Opec would leave formal output targets unchanged and as Hurricane Ike's threat to US Gulf of Mexico energy infrastructure receded.