| There is a lot of disruption going on in oil. We're talking wildfires and war. The US Energy Information Administration (EIA) calculates that unplanned supply outages, such as those in Canada and Nigeria, reached just over 3.6 million barrels a day last month, the highest since the EIA started tracking them in 2011.
No wonder oil is back above US$50 a barrel. Or, from another perspective, how the hell is oil only at US$50? Oil looks pretty subdued relative to earlier periods of strife, a recent report said. But then, you'd probably be a bit subdued too if you had a few hundred million barrels of oil dumped on top of you...............................................Full Article: Source
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