Oil Update: No Breakout So Far, but the Trend Remains in Place

By Nadia Simmons Sep 03, 2013

From today’s point of view, it seems that the situation hasn’t changed much since last week because light crude is trading between $105 and $107 per barrel once again, just like it did a week ago. However, last week was very interesting and brought a significant improvement in the oil market — a positive change that eventually turned out to be only temporary.