From eureka Remember, a surging US dollar has played a key role...

From eureka
Remember, a surging US dollar has played a key role in seeing crude prices fall. Yet the US dollar won’t rise into perpetuity and indeed is at the top of its range itself. As a final point, and perhaps surprisingly given the price action, data from the US Commodity Futures Trading Commission shows that speculative traders still hold bought positions on crude (on a net basis). Certainly the number of shorts has grown markedly, but the fact that speculators are still net long suggests there is a lot of support for crude.