Crude Crashes Into Bear Market To April Doha Lows
The oil bulls tried to create a fictional bull market, but failed. The world economy is not sufficient to support the supply levels of oil at $40+ per bbl, but the oil producers need money so bad they cannot cut production. And, so, oil prices will remain low until these dynamics change, or the oil bulls take another flyer at a fictional bull market. Oil prices should continue to settle. The WTI price today should settle to around $30 plus or minus 5.