NEW YORK, July 11 (UPI) -- A positive forecast for market trajectory helped lift crude oil prices in early trading Monday after a weak start, though underlying conditions remain negative.

The price for crude oil trended lower in overnight trading as investors continued to examine the latest data set on upstream oil and natural gas activity from services company Baker Hughes. For the fifth time in six weeks, weekly data show an increase in U.S. rig activity, signaling drillers are more confident despite the market volatility in the wake of the British referendum to leave the European Union.

More rigs could lead to higher production and push markets more heavily toward the supply side.

http://www.upi.com/Oil-prices-inch-barely-into-the-black-on-bullish-outlook/8161468243980/?nll=1

As long as dummies keep buying oil futures then there will be smart businesses eager to sell and the supply glut will get worse.