Oil prices have continued to rise following last week's sudden surge beyond the $80 price mark. A number of analysts have estimated that this rise may continue given the upcoming onset of the driving season in the United States and subsequent jump in gasoline consumption. However, some have begun anticipating a downward turn given the conclusion of the colder winter months and impending drop in heating oil consumption.
With this contradictory information, what we can deduce is that the $81.50 price mark represents a significant psychological barrier. Should Crude Oil prices break beyond this resistance line, there's a chance that the rising price could continue. If it fails to break through, on the other hand, commodity traders should see oil prices declining back towards the $80 price mark before the middle of the week.