One could logically argue that crude oil prices should be heading toward $100 a barrel given the bullish factors in global oil markets. Why prices have stayed low is something of a mystery that cannot be explained by President Trump’s Twitter habits alone.
Crude Oil Ends May with a Thud
The July WTI and August Brent contracts each lost more than $3 Friday.West Texas Intermediate (WTI) crude oil for July delivery plunged again Friday, losing $3.09 to settle at $53.50. The WTI traded within a range from $53.10 to $56.61.The August Brent contract also fell sharply Friday, declining $3.34 to...