Large Supplies of Crude and Products Undermine Prices

There have been a number of factors that have conspired to drive the price of oil to levels near $30 per barrel.  These include a soft global economy, volatility in the capital markets, the potential for additional supply and very high levels of inventory. Crude oil and petroleum product inventories, both domestically and internationally, have been growing since mid-2014 and are above five-year averages for…