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Brent crude recovers above $86 again

Yesterday afternoon Brent crude fell back to below $85. The low see ahead of the US stock market opening was set at $84.78. The rebound that followed into the 4pm London FX fix saw it rebound back above $86 per barrel. Brent for August delivery later settled $0.77 higher on the NYMEX exchange, at $86.01. It has not strayed too far from that settlement level so far today. The range seen has been covered by $85.87 to $86.27. The fact that Brent seems to keep revisiting this upper level is a little at odds with some dynamics, but clearly there is still demand at lower levels, irrespective of how far it has come over the past month. Perhaps it is also worth noting; that the August contract will expire later this week, on June 27. Brent crude is currently trading at $86.02

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