The Nymex crude oil futures market has backed way down from the early-July high above $75.00 a barrel. The recent sharp down-days have produced some near-term technical damage to begin to suggest this market has put in a near-term top, if not a major top. More solid selling pressure this week would better suggest a top is in place. Fundamentally, world oil production is on the rise again, after some producer outages kept supplies off the world market in recent weeks. Stay tuned!