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Based on the comments given, what is Mike ’ s opinion toward oil price in the near future? “ Crude oil likely has established its high price for the year, though our concern is that its downside risks are below most expectations, ” said Mike McGlone, senior commodity strategist for Bloomberg Intelligence, in a tweet. “ The receding-tide pattern is accelerating — lower prices on the back of slack demand and increasing U.S. supply and stock-market volatility. ”