May 14, 2026 at 3:33 PM UTC
Updated on May 14, 2026 at 7:11 PM UTC
Eleven weeks into a Middle Eastern conflict that has shuttered a critical shipping channel and sent energy prices soaring, the US dollar’s linkage to oil prices is more positive than ever before.
The correlation between the Bloomberg Dollar Spot Index and Brent crude futures now trades at its highest level on record, going back to when the greenback gauge launched in 2005. Said differently, the extent to which oil and the greenback trade in tandem each day is the strongest in more than two decades.
Extracted and lightly reformatted for readability. · Source: en