Brent crude backs away from $82.40 high as markets wait

Yesterday oil prices got another boost from a noted headline regarding the prospect of a potential imminent attack on Israel by Iran. That was reported on here at the time this emerged from Fox news. The news sent stocks falling back and Gold lifted further. So, oil prices got a boost from a potential supply shock such an attack might deliver. Of course this has not happened, but ever since yesterday afternoon oil prices have nevertheless remained elevated. So, Brent crude for October delivery rose to a high at $82.40 yesterday afternoon and later closed, $2.64 higher on the NYMEX exchange, at $82.30. The price has backed off a bit so far today, but overall Brent is certainly more elevated than it has been for several sessions now. It is currently trading at around $81.80