Oil Rises After 10 Month Low – 22 June, 2017

After a 10 month drop in oil, prices finally began to rise Thursday to $42.74 a barrel from $42.05 just the day before, the lowest its been since August 2016. Since February, crude dropped roughly 20 percent. Crude output in the United States has caused a heavy oversupply, but producers may profit even if a barrel sells for under $40. The Gulf of Mexico is home to roughly 17 percent of U.S. crude, so Tropical storm Cindy delayed some operations but things are getting back on track as it passes.