Crude oil prices bounced back during last week after they had tumbled down a week earlier. On Thursday Bernanke testified in the Senate; he voiced his concerns around the European debt crisis as it may affect the U.S economy but he say will there be another QE program in the near future. During the weekend it was announced Spain will ask from the EU a bailout of 100 billon euros for its banks.

The Brent premium over WTI remained in the $14-$16 range. During the upcoming week there are several publications and events that may affect oil rates including the U.S retail sales, China's new loans, OPEC monthly report, IEA report and U.S jobless claims. 

For the complete oil market weekly analysis at Trading NRG