Crude Oil Bounces Off of Low, Moving Toward Intraday High

Crude Oil Futures have been fluctuating between positive and negative territory throughout most of today's session. $88.75 has served as strong support on three occasions in today's session (3:40am, 8:50am, and 12pm). The inability of bears to break through that level in this latest attempt has led to a $1.00 jump in oil prices over the past 55 minutes, and futures are now nearing their intraday high of $90.25. Crude Oil closed above $90 for the first time since August 3rd in yesterday's session, and has gained 18% since August 9th.