 So as I explained in the previous video, the value of the US dollar or US dollar exchange rate versus foreign currencies is one of the factors that affects the crude oil price. As we know, crude oil is a global commodity that is traded globally but in US dollars. So any fluctuations in the exchange rate between US dollar and foreign currencies can affect the crude oil price. I'm going to explain that in a very simple example. Let's assume there are two traders who trade crude oil, crude oil futures contracts. So one is trader A is in the United States and trader B is in Europe. Trader A has 1,000 dollars and trader B has 1,000 euros. So first let's assume that the exchange rate between US dollar and euro is one to one. So meaning that one dollar is equivalent to one euro. And let's assume that crude oil price is $50 per barrel. Okay, let's see what happens for trader A. Trader A has 1,000 dollars and can buy 20 barrels of crude oil or can buy futures contract equivalent to 20 barrels of crude oil. So $1,000 divided by 50 leaves 20 barrels of crude oil. Let's see what happens to the trader in Europe. So trader B has 1,000 euros, the first thing that trader B has to do is going to the exchange and convert the 1,000 euros to the equivalent dollar amount, which is $1,000. Then with that amount trader B can buy crude oil. So trader B can also buy 20 barrels of crude oil. So the total demand will be 20 from inside the United States and 20 internationally assuming there are only two traders, so there will be 40 barrels of crude oil demand, total demand. Okay now let's assume the case that US dollar loses its value. So again same traders, two traders, trader A is located in the United States and has $1,000, trader B is in Europe and has 1,000 euros. And now let's assume US dollar has lost its value, now $1 is equivalent to 0.8 euros. Or with 1 euro you can get $1.25, and let's assume the crude oil price is still the same $50 per barrel, and let's see what happens. Okay, trader A still has $1,000, crude oil price is still $50 per barrel. So trader A inside the United States can still get that 20 barrels of crude oil. And let's see what happens to trader B, trader B has 1,000 euros, trader B has to go and exchange that 1,000 euros to equivalent dollar, and as we can see because dollar has lost its value that 1,000 euros will be converted to 1,250 dollars because with 1 euro, trader B will get 1 dollar and 25 cents. So trader B has $1,250 which can buy five more contracts. So trader B will end up buying 25 barrels of crude oil or futures contract equivalent to 25 barrels of crude oil. So 20 barrels demand from trader A inside the United States. And 25 barrels of crude oil demand from trader B outside the United States. So total demand will be 20 plus 25, 45 barrels. So we can see demand increase from 40 barrels to 45 barrels when dollar has lost its value. So it means that demand has increased. So demand curve shifted to the left hand side which changes the market equilibrium price for crude oil and it potentially increases the crude oil price.