On Wednesday, crude oil gained 5.33% as a combination of another drop in crude oil inventories and unexpected OPEC deal supported the price of the commodity. In this environment, light crude bounced off important support lines and approached Sep highs. Will oil bulls manage to push crude oil higher in the coming week?

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On Tuesday, crude oil gave up the gains after Saudi Energy Minister told that he does not expect that OPEC producers would find a compromise. This comment disappointed market participants and pushed the price of the commodity to the key short-term levels once again. Another verification of earlier breakouts?

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On Monday, crude oil gained 3.26% on hopes that a freezing deal between major crude exporters will be reached. As a result, light crude bounced off support area and erased almost all Friday’s losses. What’s next?

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On Friday, crude oil corrected earlier gains after report that Saudi Arabia did not expect a freezing deal between major crude exporters. Thanks to this news, light crude moved lower and reached the previously-broken levels. Where will the commodity head next?

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On Thursday, crude oil extended gains as the bullish EIA weekly report continued to weigh on investors’ sentiment. As a result, light crude gained 2.16% and closed the day above $46. Where will the commodity head next?

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