Crude Rally Fizzles

February Crude Oil futures are trading lower by $0.25 at $31.16 in Tuesday's session. Around 9:00 AM, it popped to $32.21, but quickly reversed course. During premarket trading the contract made a new low for the move ($30.41) before mounting its rally. On its second visit under $31 today, it has found support just above Monday's low ($30.88), only reaching $30.90. At this time, it is attempting to remain in the $31 handle.