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Brent backs off in subdued Asian trading

Oil prices rose to their highest levels since the end of January on Friday. The price of Brent crude for April delivery reached $82.45. It later settled $0.56 higher on the NYMEX exchange, at $82.19. The further gains on Friday stalled just short of an identified, next technical level, at $82.65. Beyond that lies another potential resistance level, at $82.86 and then after that comes the current 2024 high (January 29), at $84.17. Brent has traded lower today, but not by much and the price action since the Asian opening has been subdued and sideways, with Japan and China closed. The range has been covered by $81.57 to $81.98. It is just now trading at $81.92, as it waits to see what next emerges from the Middle East
 

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