Crude Oil 2017: A Low above $45.00?

  • 22 May 2017
  • By The Hightower Report
  • Topics: Energy

As the energy complex approaches the finish of the first half of 2017, price action seems to be discounting signs of change in the “historically burdensome” US crude oil supply. From the January high, nearby WTI crude oil pricing has a times fallen by as much as $14 per barrel, and the speculative fervor from funds has declined sharply.  With the late May/early June downside extension, it would appear that the trade is also discounting the cyclical improvement in demand that normally occurs alongside a global recovery. 

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The Hightower Report is a commodity research and information firm that caters to individual investors, brokers, commercial producers, and end users. The Hightower Report broadcasts daily in more than 45 countries and publishes its Newsletter twice monthly to more than 20,000 readers throughout the industry.