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Brent crude not backing away much so far today
Yesterday the oil markets were again pushed and pulled around by a constant stream of white noise emanating out the Middle East and the US President. So, Brent crude did fall back below $84 per barrel, basing around $83.35 ahead of a rebound into the NYMEX settlement.
Brent crude for September delivery later settled $0.22 higher on the NYMEX exchange, at $84.95. The price action since then has seen it touch $86 later yesterday evening, before turning lower into the Asian opening today. That saw it drop back to around $84.30 not so long ago. The oil markets seemed to be steadying at higher levels and it looks like the markets are waiting for some fresh news right. So, poised to move on anything significant it seems, but clearly remaining elevated. Brent crude is right now at $84.58
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