Crude oil traders piled onto the downside driving oil into bear market territory in a July crude oil future expiration selloff that will be one to remember. The market is still struggling and not even the fact that we have Tropical Strom Cindy pulling into refinery row, a major political shake up in Saudi Arabia and the fact that we are already seeing shale oil producers start to feel the pain of lower oil prices seems to be helping. We also saw supportive data from the American Petroleum Institute (API) for oil but with the mood as bad as it is, it didn’t do much to elevate prices.