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Brent correction extends beyond $80

Yesterday the rebound in oil prices continued. That saw the price of August Brent eventually nose just above $80. The price action remains corrective though and still some way short of re-testing the noted 200 day moving average. That is in place this morning at $81.58. Brent crude for August delivery settled $1.46 higher yesterday evening, at $79.87. The high seen earlier today was set at $80.22. It is off that high now, currently just lurking below the $80 handle, right now at $79.97 

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