Although U.S. dollar moved higher on Friday, crude oil extended gains and closed the day above $49 for the first time since the beginning of Jul. Thanks to this increase light crude gained 0.45% and approached a resistance zone. Will it encourage oil bears o act in the coming week?

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On Thursday, crude oil gained 2.88% as a bullish weekly crude oil inventories report and hopes that major producers could reach a deal next month continued to support the price of the commodity. As a result, light crude climbed to $49. Will we see a test of the barrier of $50 in the coming days?

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Crude oil continues its rally without taking a breather. When will it end?

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Crude oil once again extended its rally yesterday and the question is if it’s going to end the rally anytime soon.

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Crude oil extended its rally yesterday and the question is if it’s going to end the rally anytime soon.

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