On Thursday, crude oil lost 1.1% as news that Saudi Arabia lowered the price of oil for buyers in the U.S. and Asia. In this environment, light crude dropped for the third time in a row, but did this move deteriorate the overall picture of the commodity?

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On Wednesday, crude oil lost 0.35% as a stronger U.S. dollar and bigger-than-expected increase in gasoline and distillate stockpiles weighed on the price. As a result, light crude pulled back once, but did this move change anything?

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On Tuesday, crude oil lost 2.40% as a stronger greenback and ongoing concerns over a global supply glut weighed on the price. Thanks to these circumstances, light crude reversed and erased over 30% of Monday’s rally. Where the commodity head next?

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On Monday, crude oil gained 5.03% as weaker U.S. dollar and expectations that U.S. shale producers will cease production supported the price. As a result, light crude invalidated the breakdown below the support area and erased almost 40% of the recent declines. Is it enough to trigger a trend reversal?

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On Thursday, the Organization of the Petroleum Exporting Countries decided not to cut output to support the market. In response, crude oil lost over 10% and dropped to its lowest level since Sep 2009. How low is too low?

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