On Wednesday, black gold moved slightly higher after the EIA report showed that crude inventories declined for the first time in four weeks. This news together with a drop in distillate stockpiles pushed the commodity above $52 once again, but is it enough to trigger further improvement?

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On Tuesday, black gold lost 0.65% as concerns of another increase in crude oil stocks and a strengthening U.S. dollar affected negatively the price of the commodity. As a result, light crude closed the day under $52, but will oil bears push it lower in the coming days?

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On Monday, crude oil extended gains as the combination of Baker Hughes report and geopolitical tensions weighed on investors’ sentiment. As a result, light crude climbed to the long-term resistance line. Will it manage to stop bulls’ charge in the coming days?

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On Friday, crude oil gained 0.22% and closed the previous week above the barrier of $50 for the first time since mid-May. But will the rally continue?

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Although crude oil moved lower after the market open, the barrier of $50 stopped decline, triggering a rebound yesterday. Despite this move light crude lost 0.28% and closed another day under the lower border of the trend channel. What’s next?

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