The price of oil appears to be on track to fill the price gap from last week as it extends the rebound from the monthly low ($74.76), and crude may stage a large rebound over the coming days as it reverses course after defending the October low ($74.23). The price of oil carves a series of higher highs and lows even as the US announces that “the Department of Energy will make available a release of 50 million barrels of oil from the Strategic Petroleum Reserve to lower prices for Americans,” and crude may continue to retrace the decline from the monthly high ($84.97) as it shows a limited reaction to an unexpected ... (full story)