Crude Tests Support Levels and Is Poised to Track Lower

Crude oil prices moved to a low below trend line support created by the $42.03 March 2015 lows.  Prices seemed to stall at these levels, as traders evaluate production and the recent outlook from the EIA. The Short-Term Energy Outlook released on August 11 forecasts that North Sea Brent crude oil prices will average $54 per barrel in 2015 and $59/b in 2016, which is $6/b and $8/b lower than projected in…