Dollar, not supply, causes record oil - Iran offical (party, propaganda, problems)

[Blue Grass Fever]

So what is it?!

Here is the story - Dollar, not supply, causes record oil - Iran offical - Yahoo! India News (http://in.news.yahoo.com/reuters_ids_new/20080510/r_t_rtrs_bs/tbs-dollar-not-supply-causes-record-oil-796e4e8_1.html - broken link)

Just the other day, it was reported that there were 'supply' problems leading to the increase of oil per barrel. Iran supply problems add to fears of oil hitting $200 a barrel - Times Online

Now this?

Rationally, i can see the dollar being more a of cause than to supply problems per se. The dollar is no longer the main currency in exchange with regards to petroleum.

Is this an all-out propaganda war between the U.S. and Iran?

What is everyone else's opinion?

[bchris02]

Its a bubble. Speculators are having a party getting rich at our expense. Last week, the value of the dollar rose and supplies rose, yet oil still rose. If we would have seen a selloff last week as the dollar and supplies rose, then I would believe this is caused by a falling dollar. Unfortunately, we will probably see oil rise to $200 and $7 gas before the price finally goes crashing to the floor.

[Frankie117]

This is what we get for using the stock market to determine the value of our dollar instead of a physical backing.