Oil prices appear to have found a little bullish momentum again in the last few days, with the rallies we’ve seen in equity markets clearly a major factor. Another reported inventory build from API on Tuesday may have taken some of the gloss off the rally, which should make today’s EIA number all the more interesting, but momentum still looks very much with the bulls. It now faces a big test around notable resistance though, just as momentum is building. Perhaps this is a bullish signal but so far, we’re yet to see a breakout. If price can break above $70 in Brent crude , then $71.50 would be the next notable ... (full story)