Oil Slips Toward Key Support as Supply Signals Start to Weigh on Prices

Much of this overhead pressure stems from a steady stream of supply-related news. Specifically, Venezuelan barrels are trickling back into the global market, while US output remains stubbornly high. While neither factor is a “silver bullet” for a crash, together they are chipping away at the bullish story that fueled the previous rally.The market simply doesn’t feel as overextended as it did a few weeks back. Traders have become far more selective, and the sense of urgency that once drove every bounce seems ...