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Crude Oil was on an upsurge during Tuesday as the storm hit the Mexican Gulf, however corrected lower during the US session as fears eased.

Uncertainty could build on unstable production from countries in the Middle East.

Today, in the American session we get Canadas Building Permits for June and from the US the EIA Weekly Crude Oil Inventories Survey.

Many geopolitical events taking place as August makes a beginning, are due out and have the potential to cause chaos in the financial markets and especially for the commodities sector.

If Trump and Putin are serious about working together to keep prices stable, it is clear that the two countries are now on a different relationship level and are seeing each other as a business partner.

The oil market is familiar to uncertainty.

Oil market prices are heading turmoil with recent fundamental activities.

What's happening in the market this week? Check out the important market events and indicators!

Today, market participants are expected to focus on the Bank of Japan’s monetary policy.

Crude oil consolidation continues.