On Wednesday, crude oil moved sharply higher after the EIA report showed larger-than-expected drop in crude oil, gasoline and distillates inventories. Thanks to these circumstances, light crude climbed above $46 once again, hitting a fresh 2016 high. Is this increase reliable? Or is it just overdone reaction to the surprising data?

• Read more

Although crude oil moved slightly lower after the market’s open, the commodity reversed and rebounded in the following hours as investors continued to react to wildfires in Canada. Thanks to these circumstances, light crude bounced off the first support zone and closed the day above the medium-term support line, but did this upswing change anything in the short-term picture of the commodity?

• Read more

Although crude oil moved higher after the market’s open, the key resistance zone stopped oil bulls once again, triggering another invalidation of earlier small breakout. What impact did this event have on the black gold?

• Read more

On Friday, crude oil bounced off session’s lows after the U.S. dollar moved slightly lower (weakened by a worse-than-expected U.S. jobs data) and the Baker Hughes report showed that oil rigs in the U.S. dropped by 4, hitting a fresh all-time record low. Thanks to these circumstances, light crude gained 0.11%, but then closed the day under the key resistance zone. Will it encourage oil bears to act in the coming week?

• Read more

Although crude oil moved sharply higher after the market’s open (supported by a huge wildfire in Canada, which disrupted oil sands production), the commodity reversed in the following hours, giving away most of the earlier gains, As a result, light crude invalidated a small breakout above the key resistance zone once again. What does it mean for the commodity?

• Read more