Factors in recent oil price increase are neither dependable nor predictable. Before we pop the cork on the champagne to celebrate both WTI and Brent crude prices above $50 per barrel, let’s take a moment to consider what’s driven the increase. It’s a supply disruption. Actually, several supply disruptions. In recent weeks, the world has been a veritable hot mess of supply disruptions. From wildfire in Alberta to militant violence in Nigeria, crude supplies are in flux. To be fair, a decline in U.S. supply has helped, but not to the degree of a 400,000 barrel per day (bpd) drop from Canada and the Nigeria Delta Avengers’ plan to bring the country’s production to “Zero.” And we all know you can’t count on someone else’s supply disruption to solve all your problems. According to the U.S. Energy Information Administration, we’re experiencing the largest unplanned disruption in global oil supplies […]