Yesterday’s news that China proposed tariffs on major U.S. imports pushed black gold sharply lower after the market’s open. However, in the following hours, the price of the commodity rebounded supported by an unexpected decline in crude oil inventories and information that the U.S. expressed willingness to negotiate a resolution on trade. How did these turbulences affect the short-term picture of crude oil?

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The title of today's alert is the shortest summary of yesterday's session. At the first glance, oil bears lost the battle around the above-mentioned support, but is it really worth to trust this first impression?

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What a day! The beginning of the new quarter, the new month and the new week was undoubtedly the triumph of oil bears. Thanks to their attack crude oil lost almost 3% in one day, which was the biggest decline since weeks. What impact did this drop have on the short-term outlook? Where are the nearest supports? For these and other questions you will find answers in today's alert.

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Analyzing crude oil’s chart from the long-term perspective, we noticed something interesting, which happened once again in March. Curious?

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Although Saudi Crown Prince Mohammed bin Salman said that his country and Russia began working on extending the January 2017 deal to a 10-to-20-year agreement, the price of crude oil declined yesterday. Is it time to refocus on the west?

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