Oil Hits $75 for First Time Since 2014 !

U.S. crude rose above $75 a barrel for the first time since November 2014 on Tuesday, after Libya declared force majeure on some of its crude exports.

Apparently, Presidential bluster distortion tweets do not overrule basic economics:

Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference...Prices to high! He has agreed!

— Donald J. Trump (@realDonaldTrump) June 30, 2018

-RW