This squeeze in oil is breathtaking. The October contract is up to $119…The dollar has decoupled to a certain extent as few see today’s gains as durable. While some may see the US bailout bill as inflationary, the global economy is still weak so a $20 rebound does not make much sense on a sustained basis. It makes plenty of sense when you need to buy something today that will go out of existence before the day is over.