Brent crude mostly sideways so far this week

It has been a couple of day since the last update here on oil prices and more specifically on the price of Brent crude. To be honest there has not been that much to note and the range over the past couple of days has not deviated too much from the median. The January contract did fall back on Wednesday afternoon, but Brent did not stay down for long and recovered from a session low at $70.72. Yesterday the price action was mostly confined inside a $72-73 range. Brent settled $0.28 higher on the NYMEX exchange last night, at $72.56, but it has fallen back so far today. The low seen a short while ago was set at $71.33. The earlier high was set at $72.39. So, overall not much has changed in terms of the outlook for prices to remains under pressure, but that very much depends on US policy from now on. Brent for January delivery is currently trading at $71.77