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US Energy Secretary on Oil, Possible Rare Earth Deal
After the significant changes in the "petrodollar," oil prices have fallen, as have the dollar and US Treasury yields.
Deutsche Bank pointed out that since the USA became a net oil exporter in 2018/2019, there has been an unprecedented high level of correlation between oil prices, US Treasury yields, and the dollar over the past 30 years. Rising oil prices are more likely to strengthen the dollar, while the direction of the 10-year US Treasury yield has become more difficult to predict.
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Analyst Amrita Sen Sees Oil Prices in $75-$80 Range
Trump once again pressures Iran through the Houthis' attacks, causing a short-term spike in international oil prices.
① The President of the USA, Trump, stated that any further attacks or reprisals by the Houthi armed group will be met with strong retaliation, and the USA will also hold Iran accountable for any future attacks by the Houthi armed group; ② As a result of this news, international oil prices surged in the short term, and Trump has reimposed "maximum pressure" on Iran, aiming to reduce Iran's oil exports.
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