Oil needs to break through $72+Right now Oil is fighting resistance so even though Oil is up $2 it's hard to say that buying here is a guarantee that Oil will advance further, I'm not saying that it won't happen. Still, for myself, it's a wait-and-see so we're close to a trend reversal but first Oil Traders need to be convinced that Oil will hit $75 and I'm not sure if traders see this happening this week not only because of banking but demand but Oil is heading in the right direction. Kurdistan halts Oil exports exactly as my last post said Oil production losses are possible and here we are for today.
WTI Breaks $70 As Kurdistan Halts Oil Exports | OilPrice.com