Have the Soaring Oil Prices Come to an End?

[pennypinch]

Could the soaring prices of oil be at its end? Some say it is. They say it looks like the Fed is through cutting rates which makes the dollar stronger and can end the surging prices of oil. Many blame the weak dollar for the high costs of oil. They say if the Federal Reserve would cut interest rates any more then the prices of oil and food would go higher and the dollar would get weaker. They feel the Fed has seen this and is putting a stop to it.

Crude was trading at one point this morning at about $125.33 a barrel, down 7% from the $135.09 record price hit on May 22. But the price of oil rebounded to around $129 later in the day.
What's more, the U.S. dollar has started to stabilize against the euro, and many blame the weak dollar for the spike in the price of oil and other commodities.

By Paul R. La Monica

I hate the fact that the Federal Reserve won't be cutting rates back anymore but would love to see the prices of fuel and food go down to a more affordable price for all Americans. The prices of food and fuel has really hampered my family and I would imagine it has your family too.

Have the Soaring Oil Prices Come to an End?

[dollardaze]

You are right pennypinch. The price of food and fuel have done a lot of damage to my family's budget as well. It sure would be nice to see the prices dropping for a change. Hopefully this will happen very soon.