| The barrel price of West Texas Intermediate crude oil has been falling since late June, and the fall is accelerating. Monday's closing price was $96.63; Tuesday's opening price was $94.02. Back in early July, I argued that oil's downward move was not over , but I confess, I'm surprised by the speed of the current drop.
Factor in seasonal considerations, and the drop appears even more extreme, as oil prices tend to be high in August and September. Does that mean that we should expect oil prices of $90, $85 or even lower in October and November, when prices typically fall? I believe it does, for two reasons...............................................Full Article: Source
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