Brent crude extends rebound to above $72.50

Oil prices have been making further progress this afternoon and the focus here as usual is on Brent crude. Brent for November delivery has risen further since an earlier update here this morning. It has now lifted above $72.50 and in the process extended the gains seen since the los point on Tuesday by around $4 per barrel. The move higher comes as US stocks continue to largely hold all the gains notched up yesterday. Brent for November delivery is currently trading at $72.62