This Memorial Day weekend, it’s the oil market that’s asking “are we there yet?” Friday morning delivered a weary “no,” with crude futures giving up a chunk of this week’s rally. That probably had more to do with China suspending economic-growth guidance than any sudden realization U.S. roads wouldn’t be as clogged as usual over the long weekend. The latter is the textbook definition of a known known at this point. Like Beijing’s economists with GDP, even AAA isn’t comfortable putting out an estimate for Memorial Day jams this year, for the first time in two decades. This captures the current state of the oil market ... (full story)