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Brent crude stalls for now ahead of $81.50
Yesterday Brent crude for October delivery stalled a couple of times ahead of $82.50 and that set up a move lower. Brent dropped back towards and eventually below $81 per barrel and later settled $1.61 lower on the NYMEX exchange, at $80.69. It has been edging higher so far today though, from an earlier Asian low, which matched the NYMEX settlement, at $80.69. The thing about the price action yesterday; is it came lower even as stocks continued to push higher. The threat of an oil supply shock seems in the background for the moment, but the market remains cautious and to a degree, hostage to every headline that emerges from the situation in the Middle East. That said, Brent is pressing higher again just now and a short while ago came close to $81.50 (81.43 the high). It is currently trading at $81.24
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