On Thursday, crude oil gained 3.84% as weaker greenback supported the price. In this way, the commodity rebounded and came back above $50. Will it be a sustainable return?

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On Wednesday, crude oil lost 2.98% after the EIA weekly report showed that domestic stockpiles hit record highs. As a result, light crude extended losses and dropped to the Apr 2009 lows once again. Will we see another rebound from here in the coming day(s)?

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On Tuesday, crude oil lost 2.80% as a combination of weak Chinese price data, and bearish reports from the International Energy Agency and the U.S. Energy Information Administration weighed on the price. In response to these circumstances, light crude declined, invalidating earlier breakouts and losing for the first time in four sessions. Does it mean that the recent rally is over?

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On Monday, crude oil extended gains after OPEC cut forecasts for global oil-supply growth in 2015. Thanks to this news, the commodity approached the last week’s high, but then reversed. Will we see a double top or further rally?

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On Friday, crude oil gained 2.79% as stronger U.S. jobs data and Baker Hughes’ report supported the price. As a result, light crude extended rally and closed the week above $50 for the first time since the beginning of the year. Will we see further improvement?

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