On Wednesday, crude oil extended gains after the Energy Information Administration showed another decline in crude oil inventories. In this environment, light crude hit an intraday high of $49.97, but will we see further rally in the coming week?

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On Tuesday, crude oil gave some of earlier gains after news that Iran and Libya have continued to increase production. In these circumstances, light crude slipped to the previously-broken resistance zone, but then closed the day above it. Is this a verification of the breakout?

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On Monday, crude oil gained 1.18% after Iranian President Hassan Rouhani supported a decision to raise the price of the commodity and join OPEC in stabilizing the oil market. Thanks to this news, light crude broke above the resistance zone and closed the day above $48. Will we see a attest of the barrier of $50 in the coming days?

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On Friday, crude oil gained 0.86% as a weakening U.S. dollar supported the price of the commodity. As a result, light crude bounced off session’s low and closed the day at the highest level since Aug 19. What’s next for crude oil?

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On Thursday, crude oil extended gains as optimism over OPEC's output cut plan continued to weigh on investors’ sentiment. In these circumstances, light crude climbed above $48 and hit a fresh Sep high. Will we see a test of the barrier of $50 in the coming week?

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