As noted here earlier today the greater than expected draw on US stocks seemed to have little impact on oil prices. Well, that was the case for a while, as Brent crude for October delivery fell back below $80 and close to $79.75. However, it did not stay down at those levels for too long and since then it has been on the rebound and risen into the NYMEX settlement. Brent settled yesterday at $78.07 and it looks set to settle shortly, closer to the $81 handle. To be honest that is what it should be doing this evening, given all the news that has greeted the oil markets today. Brent for October settlement is currently trading at $80.80