The oil crash just took a breather with an abrupt two day uptrend. Will it go further? Hard to say, as the depressing factors are still in place.
Reasons for this short-term rocket are most likely news about an encouraging U.S. growth and the relaxation of international equity markets.
There are also reports of an emergency OPEC meeting. Didn’t they want to drive U.S. shale oil producers into bankruptcy?
So, here is an interesting alternative explanation: U.S. oil reserves decreased recently. May it be that someone wanted to protect the shale oil miracle and manipulated the oil market?