On Thursday, crude oil lost 1.73% after EIA weekly report showed a larger-than-expected increase in domestic oil supplies. As a result, light crude slipped under the Apr 2009 lows once again. Will we see the commodity under $45 in the coming days?

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On Wednesday, crude oil gained 1.50% ahead of inventory data and the European Central Bank's monthly policy meeting. A weaker greenback supported the price as well. In this way, light crude closed the day above $47, but did this increase change anything?

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On Tuesday, crude oil lost 4.64% as the combination of the International Monetary Fund decision to cut its 2015 global economic forecast, disappointing Chinese data and news from Iraq weighed on the price. In these circumstances, light crude reversed and slipped under the Apr 2009 lows once again. Will we see a test of the recent low in the coming days?

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On Friday, crude oil gained 5.84% as the International Energy Agency cut its forecast for supply increases later this year. Thanks to this news, light crude increased more than $2 from an intraday low, finishing the day slightly below $49 per barrel. Is it time for higher values of the commodity or rather another pause before new lows?

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Although crude oil extended gains after the market’s open, the commodity reversed and declined sharply as ongoing concerns over ample global oil supplies and a stronger U.S. dollar weighed on the price. As a result, light crude lost 4.96% and erased most of Wednesday’s rally. Will we see new lows in the coming days?

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