Remember

Don't let every bit of news sway your thoughts. The ridiculousness of one day pointing to some news bit negatively affecting oil prices and the next day pointing to a rebellion in Libya positively affecting oil prices is sheer randomness and unpredictable. The overarching idea that needs to be crystal clear is that the demand for oil will grow given the continual growth of emerging markets (India, China) and there is only a limited supply of this black gold in the ground. Any other bit of news not concerning the demand or supply or oil only leads to daily fluctuations that are meaningless in the overall trend.