Brent coming off the top this morning following more than $3 rebound from the low yesterday

The price of Brent crude for July delivery fell to $59.30 at one point yesterday morning. An update here at the time noted how that fall was out of line with the gains seen in the global equity markets and that something might have to give. Well, it sure did and it was the oil price, because not long after that update went out, Brent started to rebound and that rebound led it higher all the way into the European close and beyond. Brent for July delivery later settled higher on the NYMEX exchange. It settled $1.07 higher, at $62.13. The price action since then has seen it rise further and earlier today Brent reached $62.72. It has edged back from that high this morning though. Brent for July delivery is trading right now at $62.45