On Friday, crude oil lost 0.78% as a combination of bearish reports from Genscape, Inc. and Baker Hughes weighed on investors’ sentiment. Thanks to these circumstances, light crude closed another week under the Aug lows, but is it enough to trigger a drop to a fresh low?

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On Thursday, crude oil declined as a stronger greenback weighed on investors’ sentiment. As a result, light crude approached the previous lows. Double bottom or further declines?

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Although crude oil moved little higher after the market’s open, a bearish EIA weekly report on crude oil inventories pushed the commodity sharply lower. As a result, light crude lost 2.72% and closed the day under $36. Will we see further deterioration?

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On Tuesday, crude oil gained 1.30% as investors continued to cover their short positions. In this way, light crude climbed to an intraday high of $37.88 and reached the Aug lows. What does it mean for the commodity?

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On Monday, crude oil gained 2.57% as heavy profit taking supported the price of the commodity. As a result, light crude bounced off the key support zone and climbed to an intraday high of $36.70. What’s next?

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