Which of course means oil prices are higher. Earlier this week CNBC's Cramer thought Obama ought to be talking up the economy including the "strong dollar." Maybe it's strong against some imaginary currency that the world is not aware of yet. The dollar gained earlier in the year but lately it's become the global punching bag again.
Oil shed early losses and hovered near $71 on Wednesday as the dollar's fall to one-year lows and Asian equities' climb to 2009 highs drew investors back to risky assets on brightening signs of a U.S. economic recovery.
Investors drew strength from data showing strong growth in U.S. retail sales, New York State manufacturing activity and U.S. producers' prices -- factors that outweighed numbers showing a sharp jump in U.S. distillate stocks.
