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Brent crude unable to hold a move to $81

Yesterday Brent crude managed to trade above $81 per barrel. The price for the March contract traded at $81.02 during the early European morning. However, that was the extent of the move and it spent the rest of the day falling back. A spike from a a low around $79.60 did rise to around 80.75, but that rebound was not sustained and it fell harder into the NYMEX daily settlement. Brent for March delivery later settled $1.31 lower on the NYMEX exchange, at $79.54. It has not managed to reclaim the $80 per barrel handle so far today, The high seen earlier was set at $79.87 and it falling back as I write. The low seen so far has been set at $79.45. Brent for March delivery is currently trading at $79.54

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