Everybody is betting they can call the price of oil
The price of oil is low enough and getting close enough to what a number of traders see as a temporary trading bottom at $24-$25 to make going long, even if it’s early, an enticing trade
Dollar falls, oil moves up on short-term trading bets
It’s important to remember that no trend goes straight up. Today we’re seeing a continuation of profit taking in the dollar and a move up in oil prices on bets for a short term bounce