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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (7556)	2/11/2004 7:19:01 AM
From: Haim R. Branisteanu	Read Replies (3) \| Respond to of 110194

from the link you posted,this sentence may prompt the US to change policy from a weaker USD to stabilization The dollar's weakness has prompted some commentators to predict that it may be abandoned in favour of the euro as the currency of choice for denominating oil prices. The oil cartel Opec is expected to examine the question at its meeting in Algiers today. Opec secretary general Alvaro Silva recently said: "We are speaking about negotiating for crude in euros. It is possible that the organisation will discuss this and take a decision at a given moment." The Russian administration has also mooted such a move. Oil prices have been sent above Opec's target price range by the weakening dollar, along with many other commodities, including gold. Last night, crude oil was valued at $28.98 a barrel. The cartel will also decide whether to change its production ceiling of 24.5m barrels a day.