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Brent back above $75 again now today

On Friday the price of Brent crude for January delivery lifted to a session high around $75.38 after the European close and subsequent to the NYMEX settlement, where it had fixed on that exchange $0.94 higher, at $75.17. Earlier this morning Brent dipped below $74.50, but it has lifted back above $75 again now. The high seen so far has been set at $75.20. The reader is also alerted to the fact, that the January contract will expire on Wednesday and that will give way to the February contract on the platform, which is priced priced lower, due to the market being in backwardation (where futures prices are lower). Brent for January delivery is currently trading at $75.14

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