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Brent crude reclaims $84

The noted rise above $83 per barrel in the price of Brent crude has extended further. Brent crude for August delivery continued to extend its gains yesterday evening and that eventually delivered a rise above $84. So, Brent later settled $1.63 higher on the NYMEX exchange, at $84.25. There is little doubt here; the gains were helped by the records being set on Wall Street. It has backed off a little today though, after extending the gains post the NYMEX settlement to $84.55. However, the relapse such as it has been has not yet delivered a move back underneath $84. The low seen so far today has been set at $84.05. Brent for August delivery is currently trading at $84.15

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