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. In the last month or so, UK Oil has slowly but surely moved higher to that three month high, before falling sharply. 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. Interestingly 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.