Ashley Petersen | Source | Lead Oil Market Analyst at Stratas Advisors

A squeeze could be short-lived. Long-term, heavy crudes are still facing an uphill battle for value.

You could say he helped lower oil prices, but he did it by being weaker than expected on a country he’s labeled as an enemy of America and by potentially derailing economic growth through a trade war with China. Not exactly bragging points.

It’s some of these concerns about oversupply with OPEC. There are also starting to be concerns about the slowdown or the plateauing in demand. Still, the low volume is indicative of “the summer doldrums." The prices are down, but the activity actually hasn’t been that high.