Crude Oil saw mixed trading during last week's session. With the beginning of last week's trading, Crude Oil saw a bearish trend and dropped below $82 a barrel. However by Thursday Crude Oil began to recover, and is currently trading at $85.50 a barrel.
It seems that speculations regarding an increasing demand for energy are boosting Crude Oil. The main reason for these speculations is the series of positive data from the U.S. economy, which were published lately. The report showed that the inflation in the U.S. is risings, and also that the housing sector in the U.S. is recovering. Considering that the U.S. is the world's largest energy consumer, the positive reports create speculations that American citizens will feel safer to consume, and as a result will increase demand for oil.
Looking ahead to this week, traders are advised to continue follow the major data from the U.S. and the Euro-Zone, as these publications seem to have a large impact on oil prices. In addition, traders should follow the U.S. Crude Oil Inventories release on Wednesday, as this report tends to have an immediate impact on the market.