Sunday, June 25, 2017

I Think People Are Just Unwinding Longs

Crude Oil Bounces Back Above $45 Per Barrel, Despite Glut

Crude oil thursday edged up from multi-month low, but prices remained under pressure from a supply glut that has persisted despite the efforts led by the Organisation of Petroleum Exporting Countries (OPEC) to balance the market. Brent crude futures were up 60 cents thursday at $45.42 per barrel, after falling as low as $44.53. They fell…