Dollar falling, China's economic growing, and what about the oil? by Ludmila Martinicka

Since 2003 the oil prices are growing. The reason could be increasing demand from China and India. After falling price of oil to $88 it rose up back to $90 for a barrel on Thursday. Dollar is falling, China's economic growing. Seems that oil prices fell down too quickly and now they are coming backwards. Last week the price was $99 a barrel, this Wednesday the price fell on $88 a barrel. As everybody was prepared on increase of the price to $100 a barrel, and the price $80 a barrel seems to be really cheap, what is quite weird but understandable, $90 a barrel could be quite acceptable. James Cordier, president of Liberty Trading Group in Tampa, Fla. Evaluate this situation like some kind of hunt for bargains. But the decrease of the oil prices seems to be just a little backspace before it runs up and cross the $100 a barrel border. Condoleeza Rice challenged Europe and Russia to ratchet up pressure on Iran to halt uranium enrichment and come clean about its nuclear programs. Energy traders worry that any dispute between the Iran and West could cut into oil supplies from the Middle East. Officials should be really careful about their words and decisions. The Dollar fell against Euro. This might also influence the decrease of the oil price. The growth of China's economics about 1 percent is estimated due to oil prices, stated Organization for Economic Cooperation and Development's revision.

related story: http://news.yahoo.com/s/ap/20071206/ap_on_bi_ge/oil_prices;_ylt=AukrdVxxbFM9.vZFgc7nTWus0NUE

by Ludmila Martinicka for PocketNews (http://pocketnews.tv)

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