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Brent crude Oil tests $81.00 after pre-weekend rebound fails to materialise

On Friday an update here noted; how often lately the oil markets push prices up into any weekend. Well, that did not materialise at all on Friday evening. The price of Brent crude for April delivery (which will expire in a few days) settled $2.85 lower on the NYMEX exchange, at $81.62. So far today, the lack of fresh news out of the Middle East and the follow-though of that negative close on Friday has kept the downside in focus. So, April Brent has dropped to test $81 per barrel. That means, as the expiry looms the price is edging back towards all its major moving averages. Those are clustered right now in between 79.65 and 80.65. The exact low so far has been set at $81.00, but it is off that low right now, currently trading at $81.25
 

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