Oil price paused around the previous top to make a kind of waiting move. The price is waiting for the Libya situation and other disturbances to become clearer.
The Oil price has set up its range from 95 to105. As long as the price doesn’t move too far away from this range, the range will continue dominate until the next summer season starts and the demand for oil increases.
It is unlikely t oil price will move under the 90 line. Consolidation by moving sideway could be the way it goes for the next while.
