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I'm looking at brent crude via gt247 and everytime i goes up sasol goes down, i don't really get this and this has been consistent the whole day,
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4 REPLIES 4
john_1
Super Contributor
Sasol is not an oil producer dummy.
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MichaelR
Regular Contributor
Huh? What does Sasol do then John ?
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coal-to-liquids and gas-to-liquids
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Look at it this way moneyman....historically the usd has been the base currency of the world...however due to Greenspan opening the spigots the dollar has devalued of late. Commodities HAVE NOT being going up VALUE....it's just taking more dollars to buy them due to diminishing purchasing power. Also since the gold market (the real currency base) is vaarrked by JPM, GS, FED, et al, speculators having been piling into oil recently predominatley as a store of wealth and protection against rampant inflation. Hence when dollar strengthens....oil drops....but this does'nt necessarily mean rand weakens (currencies do not obey linear relationships due to politics, outright meddling, etc). Remember Sasol is MUCH more affected by the rand than the oil price cause as John'o said....tis NOT an oil producer.ADIOS!
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