After hitting a low point in early June, oil continued to gain momentum through the beginning of July. Oil prices had their sights on the mid-$80s/barrel, but as we have seen recently, weakness in demand and oversupply has kept a lid on prices from heading even higher. The following graph shows the daily price movements over the past three months:

Oil prices were on a steady decline that began in April and continued through early June when prices fell below $74/barrel. Even after the OPEC+ meeting early in June where the cartel agreed to extending production cuts, demand had not been strong enough to help prices stabilize or increase. The following graph shows the daily price movements over the past

Oil prices continued their downward trend from April into May as they fell below $80/barrel. Easing tensions in the Middle East and the Federal Reserve keeping interest rates steady instead of cutting them are some factors contributing to bearish sentiment in the market. The following graph shows the daily price movements over the past three months: Positive economic news for

Oil prices started April with a big spike as they quickly approached the mid-$80s per barrel. With U.S. inventories showing draws and continued turmoil in Russia/Ukraine as well as the Middle East, prices were forced to go up with uncertainty surrounding oil. The following graph shows the daily price movements over the past three months: After hitting just under $87/barrel,