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Brent crude back above $79 once more
Earlier today we noted how oil prices had fallen back and that had seen Brent crude for September delivery fall from $79.80, as low as $77.28. Well, we already noted in a prior update that it was on the rebound when we looked at Gold in the penultimate report. It has since lifted back above the $79 handle.
We can offer no explanation for the relapse to $77.28 other than to suggest this was just due to the usual trading activity and price action in what is a volatile and ofttimes unpredictable market. Brent crude for September delivery is currently trading at $79.25
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