Oil Watch: 12/17/07 - 12/22/07 Prices, Causes and Effects

Closing price: $93.31 per barrel (up)
National gas average: $3.00 (down)

Oil prices are leveling off, it appears.

Causes:
1. Weak dollar
A lower dollar makes oil cheaper in countries that use other currencies.
2. U.S. economy
An economic report relieved some worries about the U.S. economy.
3. Low stockpiles
U.S. crude stockpiles hit the lowest in nearly three years.

Effects:
Market jitters.