OIl hits record $115/barrel, $ slips and euro stable

It seems oil prices are rising up and up.

Investor confidence in $ is at an all-time low. Currency traders are all flocking to the Euro.

Check out this excerpt (Pablo Gorondi, Associated Press Writer):

"
Oil prices hit all-time highs above $115 a barrel Thursday with reports that oil and gasoline stocks in the United States were lower than expected and as the dollar hit record lows.

Light, sweet crude for May delivery rose as high as $115.52 a barrel in electronic trading on the New York Mercantile Exchange. It eased back to $115.23 a barrel by midday in Europe, up 30 cents.

On Wednesday, the contract settled at $114.93 a barrel.

In London, Brent crude futures were up 43 cents to $113.09 a barrel

The euro hit a new all-time high of $1.5982 on Thursday, its second record in as many days against the sagging greenback, and stood at $1.5966 by midday in Europe."

All global traders are going in favoour of the Euro and oil.

Why I think the European economy is thriving is:

Excellent understanding amongst all European Union countries.

Excellent network - transportation, communications. Almost all highways are like autobahns.

Total Free Trade Zones.