On Wednesday, light crude lost 1.52% after the EIA report showed an unexpected increase in U.S. crude oil inventories. As a result, the commodity reversed and slipped to the previously-broken Oct high. Will we see a verification of a breakout or further declines in the coming days?

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On Tuesday, crude oil gained 0.45% on expectations that U.S. crude inventories would drop once again. In this environment, light crude closed another day above $53, but is as bullish development as it seems at the first sight?

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On Monday, the black gold moved little higher as expectations of acrude oil production cuts supported the price. As a result, light crude climbed above the Friday’s, but did this increase change anything in the overall picture of the commodity?

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On Friday, crude oil gained 4.03% and closed the week slightly below $53. What impact did this rally have on the technical picture of the commodity?

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On Thursday, the black gold declined once again as the combination of an increase in crude oil stocks at the Cushing, Oklahoma and a broadly stronger U.S. dollar continued to weigh on the price. Thanks to these circumstances, light crude lost 0.27% and slipped temporary under the barrier of $50. What’s next for the commodity?

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