After the fantastic rally, the crude is now trading lower, after hitting a new year low at 80.06 dollars per barrel.However, the quarterly results from Caterpillar, Du Pont and Coca Cola will be published today and could make the black gold rebound again. The West Texas barrel is now trading at 79.55 dollars at the NYMEX.

If the trend reverts, the support to consider is at 70.00. The crude fell 0.6% since the session started.