Brent for December delivery falls below $72

Over the past couple of hours the earlier European session price action saw oil prices try to rebound a bit more. However, as the update is written the price of Brent crude for December delivery is tracking back close to that $72 handle again. The reader is reminded of the Asian session low at $71.99 and the current price is close to that right now. So, we might soon see if that level is breached on the downside. In fact, Brent for December delivery has just now taken out that Asian low, as it drops below $72 per barrel and hits a new low a moment ago at $71.91