I think it may test $100. Demand is soaring and the US$ is not worth anything. My fear is that they start using Euros to price Oil. That could crush the dollar.
08:35 Fears of dollar collapse as Saudis take fright - Daily Telegraph Daily Telegraph reports Saudi Arabia has refused to cut interest rates in lockstep with the US Federal Reserve for the first time, signalling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East. "This is a very dangerous situation for the dollar," said Hans Redeker, currency chief at BNP Paribas. "Saudi Arabia has $800 bln in their future generation fund, and the entire region has $3,500 bln under mgmt. They face an inflationary threat and do not want to import an interest rate policy set for the recessionary conditions in the United States," he said. The Saudi central bank said today that it would take "appropriate measures" to halt huge capital inflows into the country, but analysts say this policy is unsustainable and will inevitably lead to the collapse of the dollar peg. As a close ally of the US, Riyadh has so far tried to stick to the peg, but the link is now destabilizing its own economy
Yeah Bouy!! $84 for black gold! Fucking yeah. This is better than sex?! Only $4 more to go for blitz and ecstacy!! Hahaha you $50 oil shitheads. You motherfuckers have shoted your soul away and will burn in hell!