The U.S. may be backing itself into a corner, the commodities watcher said.
President Donald Trump could be facing a"cruel summer" when it comes to crude oil prices, says RBC's Helima Croft.
Now that these two OPEC countries are under strict U.S. sanctions, the United States' relationship with the world's other major oil powerhouse is coming under scrutiny, Croft said. "Right now, the Saudis have said, 'OK, we're going to look at the market. We're going to make sure it's well supplied,'" Croft said."We think they'll put probably an additional 400,000 barrels on the market [and] go up to what their OPEC quota is, but I think they're going to adopt a wait-and-see approach."
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