Zigzag pattern on oil markets continues

The rough zigzag pattern of recent weeks is continuing: the price of Brent recouped Friday's losses and ended trading a good $1 higher than it began.

American light oil of the type WTI even gained $1.5. This further narrows the price differential between the two benchmark types: in mid-August, Brent still cost nearly $7 more than WTI.

Taking into account the WTI contract rollover that is due today, the gap between the two November contracts is now just a good $2, says Commerzbank.