Oil prices have taken another leg lower, with Brent crude oil prices falling below $80 per barrel and WTI prices falling below $76. It is more of the same story: the market is grinding lower due to OPEC’s failure to act to stem output. Yesterday, Saudi Arabia’s oil minister prattled on about his country’s comfort with the current state of the market, reminding us all that Saudi Arabia does not set the price.
Energy Overview — TotalView™ of the Energy Markets