Oil prices Jumped 5$ today as OPEC reduced her supply by 1 million barrel per day.

So the demand on the oil will be higher than the supply and the price will increase more in the near future.

On the other hand, the high price of the oil will lift the inflation up so we might see another interest rate hike.

The dollar index should be bullish for the short terme as he couldn’t break the 102.05 support and the 0.5 Fibonacci.