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Brent cadges a ride above $89 on US stock rebound
Yesterday Oil prices fell back to session lows around the time of the 4pm London FX fix. That saw the price of Brent crude for June delivery fall to a low at $87.31. However, that was soon reversed into the European close and then the gain was extended before and after the US closing bell, as stocks came well off their earlier lows. The charge higher in US futures after the close has added further traction to the move and that has seen Brent rise above $89 ahead of and after the wider US markets close last night. Brent has risen to a high so far today at $89.56 and it is not far off that high right now, currently trading at $89.53
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