On Thursday, crude oil lost 1.65% as the combination of bearish comments from Russia and OPEC leaders, a progress in resolving a strike in Nigerian port and a stronger greenback pushed the commodity lower. In these circumstances, light crude declined sharply and approached the recent low. Time for a double bottom?

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On Wednesday, crude oil gained 0.54% as a better-than-expected report from the EIA supported the price. As a result, light crude bounced off the recent multi-year low and hit an intraday high of $58.98. Will we see further improvement in the coming days?

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The price of crude oil declined yesterday once again – was the bottom reached yet?

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On Monday, crude oil lost 3.62% as a combination of a rising greenback and news from the United Arab Emirates pushed the price lower. Thanks to these circumstances, light crude broke below its key support line and hit a fresh 2014 low of $55.02. How much more room to decline does the commodity have?

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On Friday, crude oil lost 2.81% as the International Energy Agency cut its outlook for demand growth in 2015. In this environment, the commodity hit a fresh multi-year low of $57.34 and reached its key support line. Will we see a rebound from here?

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