This chart shows relationship between natural gas (UNG), oil (U.S. Oil Fund ETF) and the U.S. dollar ($USD). You can see that oil and natural gas tend to move inversely to the dollar -- because they are denominated in dollars. A cheaper dollar means that it takes more of 'em to buy oil or gas. But there is more to the story than a weak dollar. Notice how the dollar has been basing for the last month or so ... yet both oil and gas have been moving higher . That's a supply issue -- not enough supply to meet current demand. It's also inflationary, which makes it less likely that the Fed will lower rates. And if the Fed stops dropping rates, the dollar will be in greater demand and then we'll really see whether this inverse relationship holds up.... http://www.thestreet.com/p/rmoney/technicalanalysis/10412890.html