Here's Where Oil Prices Are Headed in the Next Six Months

Oil prices are stabilizing, despite recent Brexit-related slumps, according to one analyst. 'For more than two years, there's been more supply than demand,' said Spencer Welch, an oil analyst with IHS, based in London. 'The market is back into supply and demand balance.' On Sunday, Saudi Arabia's energy minister Khalid al-Falih said the oil market is becoming more balanced. Welch expects oil to remain in the $45 to $50 a barrel range over the next six months. Prices for West Texas Intermediate currently stand near $45. TheStreet's Scott Gamm reports from Wall Street.