The price of WTI crude futures has now breached the $75 level. The low price just reached $74.96. That is the lowest level since July 20. The closing level at the end of the year was at $80.42. The high price reached $94.99 (on September 28). The low price was at $63.61 (on May 4)Since September 28, the price has fallen 21.09%, despite increased tension in the middle east from the Israeli/Hamas conflict. At the same time, concerns about slower economic growth has weighed on the demand side of the equation.Late yesterday, the private (API) inventory data showed a much larger than expected inventory build of 11.9 million barrels.The API is survey of oil storage facilities and companiesThe offi
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