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Takeaway: Brent crude prices move in the opposite direction of the US Dollar Index.

Below is a chart created by Hedgeye energy analyst Kevin Kaiser -- it shows the relationship between Brent oil prices and the US Dollar Index over  ten-year period. As you can see, Brent crude prices move essentially in the opposite direction of the US Dollar Index.  

That means that if the US Dollar strengthens, oil prices are likely to go lower. It's a very telling chart, and is consistent with Keith's adage: "If you get the US Dollar right, you get a lot of other things right."

 

Chart: Brent Crude and the US Dollar Index - brent