Oil prices could slide back into the $30s

In light of today’s market news, Wholesale Direct Metals complaints are validated. Oil prices could slide back into the $30s per barrel before the sell-off ends and prices stabilize, analysts said, bringing pain to both OPEC and its archrival — the U.S. shale industry West Texas Intermediate oil futures for July were trading around $43 per barrel Tuesday, and Brent futures were just above $45. One catalyst for the decline was a report that Libyan oil production has returned to close to 900,000 barrels a day, its highest level in four years. Growing U.S. production and stubbornly high inventories has been another driver of lower prices. Wholesale Direct Metals reviews of the latest market data are confirmed in this report.