Oil / Gold / US $ as reported by various news sources

August 19, 2008 12:03 PM Oil and gold are moving higher in response to the USD sell-off. The squeeze probably has more room to go... Oil and gold are moving higher in response to the USD sell-off. The squeeze probably has more room to go...EUR/USD has 100-hour simple moving average resistance at 1.4756, above there likely sees to trend line resistance zone between 1.4810/30, and 200-hour moving average is up at 1.4868. (http://www.forex.com)

Myra P. Saefong (http://www.foxbusiness.com)

Crude Futures Close Higher To Break Losing Streak

SAN FRANCISCO -- September crude closed at $114.53 a barrel in New York Tuesday, up $1.66, or 1.5%, to break a three-session decline. There was "extreme volatility today -- everyone got super nervous when the dollar broke through key support," said Kevin Kerr, editor of Global Commodities Alert, published by Futures Press. "The cracks in the dollar rally are starting to show as more bad news for the greenback is surely on the horizon," he said. And "as the dollar falls apart, the commodity rally may well resume swiftly."

By STEVENSON JACOBS, AP Business Writer 6 minutes ago

NEW YORK - Oil prices rebounded Tuesday, jumping back above $114 barrel after the dollar weakened against the euro and a rally in heating oil pulled new buyers into energy markets.

Light, sweet crude for September delivery rose $1.66 to settle at $114.53 on the New York Mercantile Exchange, after alternating between positive and negative territory earlier in the day. The September contract expires Wednesday, adding to the volatility.

At the pump, retail gas prices continued their decline, suggesting that cash-strapped Americans are still cutting back on their driving. A gallon of regular slipped another penny overnight to a new national average of $3.73, almost 10 percent lower than record prices of $4.114 a gallon reached July 17, according to auto club AAA, the Oil Price Information Service and Wright Express.

Crude began the day lower after Tropical Storm Fay missed oil and gas installation in the Gulf of Mexico, easing concerns about a disruption in supplies. But prices later spiked more than $3 a barrel, apparently driven higher by a surge in heating oil futures that triggered technical buy orders in energy markets, analysts said.