We’re heading deeper into the summer months, which usually means higher demand for energy products, namely crude oil and gas. While demand tends to be seasonal, the entire crude complex is also sensitive to changes in macroeconomic and geopolitical environments. In short, all traders and investors understand that it’s not a viable strategy to “go long” in energy commodities every June in anticipation of price increases. Still, the seasonal context is worth looking at and comparing to both the current price situation and fundamental forecasts. What Are Analysts Saying? Crude oil prices continue to rise, marking its best performance since April, following a three-week streak of declines. Analysts expect summer fuel demand to draw down inventories and tighten the market, with oil stockpiles projected to decrease by 850,000 barrels per day in the third quarter. Despite mixed economic data from China and US consumer sentiment prompting analysts to forecast weakness…
