Oil futures were set to log a sixth consecutive week of losses on Friday, their longest stretch of weekly declines in about 15 years, as traders continued to fret over the large overhang in U.S. crude supplies.
Looks like talks have broken down with the Iranians. I think we are close to a bottom on crude. If Israel finally gets fed up with American stupidity and eliminates the nuclear threat then crude goes up. This is more likely the coming scenario.