The oil market has been very weak over the past seven months. The price of a WTI contract went down more than 50% from its 2014 peak of $107 per barrel. Part of the reason for this dramatic sell-off is a resurgent US dollar, which is dragging down oil and commodities in general. However, oil got cheaper in virtually all major currencies (see graph below), meaning that other, more fundamental factors are also at play. Click here to view full article at peakoil.com
