Crude Oil Update

We’re drivin’, there’s political uncertainty in the Middle East, and it’s almost August, so U.S. inventories are being depleted in a typical seasonal pattern. Thus, as this Bloomberg News article reports, crude prices have gone up. But they have not gone up much, because the continuing economic malaise is countering the price-increasing factors mentioned above. (Bonus points to those of you old enough to recognize my Carter reference in the previous sentence)