Perhaps this is a bit premature, but it looks like oil prices are going to start going up again.  Based off a combination of Cushing, OK storage levels not increasing much and the Saudis saying they were going to charge more for the oil they will send to Asia, oil futures have gone up.

Looking at it, the storage levels at Cushing actually went up, just less than they have recently.  And the Saudis only bumped their price up a dollar.  So it’s pretty tenuous.  It seems that investors are looking for a reason for oil to go up in price, and this is a reason, be it what it may.  I’m not convinced that this increase will stick.  I expect prices to start consistently going up this summer or fall.