Crude Futures and Options Tell a Different Story

Crude oil prices have moved to a new range which appears to be floored near $50 per barrel and capped close to $55 per barrel.  Recently the EIA has increased its average price for WTI to $53 per barrel, as inventories begin to balance over the course of 2017.  OPEC appears to have started on the right foot according to reports about Saudi Arabia, but U.S. producers are doing their best to fill the void and…