Although crude oil moved lower after the market’s open, the commodity erased losses later in the day, hitting an intraday high of $78.04 as concerns over the situation in Libya supported the price. In this way, light crude gained 0.45% and bounced off the recent lows. Will we see a post double-bottom rally in the coming days?

• Read more

On Friday, crude oil gained 0.77% as a weaker dollar and concerns over the situation in Ukraine pushed the price higher. As a result, light crude approached the previously-broken barrier of $80. Is this a sign of strength or the last stop before new lows?

• Read more

On Thursday, crude oil lost 1.39% as OPEC cut a demand forecast for its crude. Additionally, a stronger green back and news from Libya weighed on the price. In a response, the commodity hit an intraday low of $77.12, erasing over 75% of Wednesday’s rally. Will light crude hit a fresh low?

• Read more

On Wednesday, crude oil gained 2.06% after bullish the EIA weekly report on domestic inventories. As a result, the commodity invalidated the breakdown below two support/resistance levels and approached the previous lows. Will it be enough to change oil investors’ attitude and trigger a rally?

• Read more

On Tuesday, crude oil lost 1.09% as the combination of soft U.S. data and a European Commission‘s decision fueled concerns over a global demand, pushing the price lower. Additionally, Saudi price move continued to weigh on the commodity. Because of these circumstances, light crude hit a fresh multi-month low of $75.84 and broke below important support levels. What’s next?

• Read more