DO OIL PRICES DEPEND ON THE VALUE OF US DOLLAR ?

This paper deals with oil prices and with their relation on the value of US dollar, and draws some conclusions about their correlation. The author used the annual figures for the main world currencies and oil prices, obtained from many different sources. International commodity prices are mostly expressed in dollars, especially oil prices, or in the terms of the indices based on dollar prices. The oil prices are obviously affected by the inflation and also by the value of the US dollar exchange rate. There is a definite link between the monetary policy, the exchange rates and the other factors and the oil prices, which is analyzed in this paper.