Crude oil prices spiked late June 9, ending in positive territory after trading down for most of the day, following a bullish US government report on 2021 global oil demand and news that Gulf of Mexico production was returning slower after Tropical Storm Cristobal. After falling below $38/b, front-month NYMEX WTI ended up rising 75 cents/b and settled at $38.94/b, while ICE July Brent ticked up 38 cents/b and settled at $41.18/b. On June 8, WTI had retreated after flirting with $40/b late in the week ending June 6 as OPEC+ agreed to keep additional barrels offline, at least through July. After its historic negative-pricing event in April, WTI has climbed to […]