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Figure 4. From Raymond James, Energy Stat of the Week, Equity Research, June 16, 2008. There is a correlation between the rapid recent price increases and the weak dollar. The Euro, for example, now buys oil at the rate of about $75 per barrel, a discrepancy attributable to decline in dollar purchasing power.
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Figure 4. From Raymond James, Energy Stat of the Week, Equity Research, June 16, 2008. There is a correlation between the rapid recent price increases and the weak dollar. The Euro, for example, now buys oil at the rate of about $75 per barrel, a discrepancy attributable to decline in dollar purchasing power.