In the last week or so UK Oil has made another solid run towards a three month high above $43 having previously fallen away from the three month high reached two weeks ago, and again two weeks before that. Throughout May, UK Oil slowly but surely moved higher to that three month high, before falling sharply, and then making repeated attempts to push passed the current resistance around $43. Should this level be convincingly broken, it will most likely provide some support. Its recent surge higher is a vastly different picture to mid-April, as UK Oil sank to its lowest level in many years below $20, and currently UK Oil is close to closing the significant gap down in early March, by returning to above $45. In early May, UK Oil settled right around the key $30 level after rallying well off the multi-year lows below $16, and it also consolidated well several weeks ago around $35.