Brent crude lifts back above $72.50 after reports from Sky News Arabia

Not long ago a news headline from Sky News Arabia reported that the IRGC (Iranian military) have vowed to strike back at Israel following the targeted attacks launched last weekend. That headline has helped to push oil prices higher and lifted Brent crude above $72.50 just now. Earlier today the price fell back to a low at $71.24. This potential supply side disruptive news is live right now, but the longer nothing else happens it might dissipate in terms of the reaction across the oil markets. We have seen that in the past and of course there is no immediate guarantee that this report is accurate either. Nevertheless it has helped to lift the oil markets so far. The reader is also reminded that the December contract on the platform will expire tomorrow and after that we will be trading the January contract. Brent for December delivery is currently trading at $72.33