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Brent crude holding above $82 this morning
Yesterday oil prices did slip ahead of the US opening and that saw the price of Brent crude for April delivery briefly fall below $81 per barrel. However, it did not stay down there for very long and rebounded with stocks into the US opening. This was also helped by Saudi Arabian outlook forecast for increased demand. That later saw April Brent settle just $0.19 lower at exactly $82.00. It has rebounded a little so far today and for the most part it has been camped above that $82 handle. The news from the Middle east is not positive yet in terms of the conflict in Gaza and serious doubts remain as to how this will pan out. That uncertainty continues to support oil prices overall, unless it changes. Brent for April delivery is currently trading at $82.25
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