Oil is at above $122 per barrel. Will the oil price trend continue to lower?
Many analysts have long questioned whether high oil prices could be sustained; many blame speculative investing fueled by the falling dollar for a near doubling of crude prices over the past year.
A weakening dollar can spur investors to buy oil and other commodities as a hedge against inflation, but the effect tends to reverse when the dollar strengthens. A stronger dollar also makes oil more expensive to buyers dealing in other currencies.
"We see continues pressure and oil moving over $15o by mid summer", said Roger Almond of brokerage firm CES Futures.
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