The current supply-demand situation for crude oil shows a market that is well supplied. So well supplied in fact, that oil prices have sunk below $60 per barrel. But this fact highlights a distinction that makes a difference. The price of oil that gets highlighted every trading day is the price of light, sweet crude. That's the most common type, and it's what gets converted into gasoline and powers industry. But there's also heavy crude. This is the type of oil used for diesel fuel. Unlike light crude, heav ...