On Friday, crude oil extended losses as a combination of news about rising Iraq's oil exports and report by BMI Research and Baker Hughes affected negatively investors’ sentiment. Thanks to these circumstances light crude lost 1.25% and slipped under the lower border of the consolidation. Will this event accelerate declines in the coming days?

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On Thursday, crude oil lost 2.19% as worries over the supply glut in crude and refined product weighed on investors’ sentiment. In this environment, light crude moved away from the resistance zone and re-approached the recent lows. What’s next?

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On Wednesday, crude oil moved higher after the EIA showed another drop in crude oil inventories. As a result, light crude gained 0.66% and climbed to the resistance zone. But did this increase change anything in the overall picture of the commodity?

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Although crude oil increased slightly after the market’s open oil bulls, didn’t manage to push the commodity higher which triggered a reversal and decline. As a result, light crude lost 1.07% and closed the day under the resistance zone. Will we see lower prices in the coming days?

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Crude oil attempted to move higher yesterday, but failed to do so and closed the day almost 1% lower – it’s also moving lower in today’s pre-market trading. What’s likely to happen next?

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