Enter the Brokers, many owned by the same banks who made these loans, and the industry, who creates the numbers that drives the price. If only those numbers can be made to be more optimistically than reality, and the futures traders could key on that with leverage to drive the price of oil higher. Well it seems like that is indeed what happened, and now the data is catching up, right at the same time oil demand gets even weaker.
So I expect a sharp fall off in the price of oil the remainder of summer, and if I am right regarding Atlantic Hurricane season being weak, again. The price drop can continue through the fall.