On Tuesday, crude oil wavered between small gains and losses as weaker-than-expected oil demand in China continued to weigh on investors’ sentiment. In this environment, light crude slipped to the lower border of the rising trend channel, but closed the day above it. Will this support withstand the selling pressure in the coming days?

• Read more

On Monday, official data showed that Chinese demand for crude oil declined in July, which together with a stronger U.S. dollar and concerns over a rise in OPEC output weighed on investors’ sentiment and pushed the price of the black gold lower. As a result, light crude lost 2.52% and closed the day below $48. How low could the commodity go in the coming days?

• Read more

On Friday, crude oil gained 0.47% supported by Saudi energy minister commentary who said that Saudi Arabia did not rule out the possibility of additional production cuts. Thanks to these circumstances, light crude invalidated the earlier breakdown under the lower border of the consolidation, but is this event as bullish as it look at the first sight?

• Read more

Crude oil moved back and forth in a very volatile manner yesterday, moving above $50 temporarily, only to decline and close the session back below $49. What can we infer from these moves?

• Read more

On Wednesday, light crude moved a bit higher after the EIA weekly report showed a larger-than-expected drop in crude oil inventories. Thanks to this news, the black gold gained 0.79%, but did this increase change anything in the short-term picture of the commodity?

• Read more