I asked how low crude oil’s price can go in a June 30, 2026, Barchart article, where I concluded with the following:
Significant changes in oil market dynamics and the U.S. desire to push inflation lower could send prices to lower lows in the $40-$50 per barrel range. The long-term chart highlights lower highs since 2008, and the current price action suggests oil will likely continue to make lower lows.
However, if Iran does not cooperate and hostilities accelerate, short-term upside spikes remain possible. The bottom line is that crude oil is likely to move lower from the current price level in the current environment.
