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WTI Crude Crumbles Back To 6-Week Lows (Under $57.50)
Wednesday, May 27, 2015 7:59
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WTI Crude’s late-day bounce yesterday is gone… and then some. Front-month (July) futures prices are back below $57.50 – their lowest since April 23rd (before the inventory “draw”s began). With OPEC’s June meeting looming every closer, one wonders if this downward pressure on price is helping to solidify anti-Saudi rhetoric among the cartel members…
And as a reminder, some context from the last OPEC meeting…
Charts: Bloomberg
Source: http://silveristhenew.com/2015/05/27/wti-crude-crumbles-back-to-6-week-lows-under-57-50/
