Brent crude slips and then rebounds as peace talk headlines abound

Since the last update here much earlier today, oil prices did rebound and that saw the price of Brent crude for June delivery push back to just above $91 again. However, since then and since the US stock market reopening, oil prices have been falling back again. That is all due to renewed optimism; that the talks between Hamas and Israel might lead to some kind of deal. That said, the news is very fluid in that domain and nothing has yet been agreed, or at least nothing that can be reported upon here. So, in the midst of that optimism, there is still room for disappointment around the oil markets. However, so far that optimism has helped the price of Brent drop back towards $89.50. It did come to the level, but it is off that interim low right now as further headlines emerge. So, of course this is 100% a headline and supply side driven market right now and that probably means more price swings are yet to come ahead of the NYMEX settlement this evening. Brent is just now trading back above $90 once more