Crude prices are stuck in a $50-$55 range for WTI, as news that would drive prices higher inevitably gets offset soon after by something pushing it lower.
Hedging all those barrels coming out of the ground in the U.S. is creating downward pressure on prices.
It was a great week if you are an oil buyer, but if you produce it, it was one to forget as oil prices break substantially below $50.
Cutbacks dating back to 2015, strong economic growth and problems in a lot of producing countries have brought the oil market to this point.
April 1st promises a surge of HOS violations; Uber pulls out of Southeast Asia; China starts trading oil futures; US Customs looks to upgrade their digital tools; Kansas City Southern hit by new tax bills.
