Jun
17
Steep Oil and Strong Dollar Make Toxic Brew for Global Economies
By‘Brutal’ rally in dollar-priced crude hammers governments, strains consumers from U.K. to Brazil
For Americans, rising oil prices are threatening $3-a-gallon gasoline and pushing up prices for plane tickets. In many other parts of the world, today’s crude rally is more painful—sparking protests, gas lines and emergency subsidies to quell unrest.
That is because many consumers outside the U.S. face a double whammy when—like now—the dollar gets stronger at the same time that oil prices rise. While petroleum is produced all over the globe, when it is sold to refiners and other buyers it is almost always priced in dollars…
Steep Oil and Strong Dollar Make Toxic Brew for Global Economies
