Brent drifts back from above $87 again

The initial reaction across the oil markets to the much higher than expected draw on US oil stocks yesterday seemed rather odd. That was observed and noted here at the time, when the price of Brent initially fell back on that news. However, it did later rebound and that rebound saw the price rise back above $87 per barrel and later settle $1.10 higher on the NYMEX exchange, at $87.34. There will be no US oil market trading today due to the July 4 holiday. Ahead of that the September futures have dropped back this morning and right now on session lows. So, once again it seems that potential wholesale (producers) sellers seem to be taking advantage of rises above $87 to hedge future production? Brent for September delivery is currently trading at $86.79