Waiting for the next crude inventory report. I expect more inventory build, which should cause a further drop in price. These low crude prices are serving to destabilize the governments of oil export dependent nations. At some point soon, I expect to see civil unrest in places like Venezuela and Algeria and other economies which depend on oil revenues to subsidize expenses for their populations. If we see this unrest, it may serve to reduce oil output from these nations
Additionally, Saudi Arabia has reportedly been participating in airstrikes against IS. They are reportedly preparing to commit grounds forces to the conflict. This sets them up as a target for IS actions IMO.
Remember...the price of crude isn't just dependent on supply and demand...there are geopolitical concerns as well.
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