Renren said that the US dollar is the only settlement currency for international oil prices, which leads to a strong correlation between international oil prices and the trend of the US dollar. The stability or appreciation of the dollar is conducive to the stability of oil prices.

Oil is the most important energy source in the world, and its price fluctuation is closely related to the trend of the US dollar. The fluctuation of oil price not only reflects the relationship between world oil supply and demand, but also reflects the change of US dollar exchange rate. The depreciation of the dollar will stimulate the crude oil market and lead to an increase in oil prices. In order to avoid risks, speculators will choose to exchange dollars for oil futures contracts. This may cause an imbalance between supply and demand in the oil market and affect the stability of oil prices.