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Brent drops back as OPEC remains silent
Following an earlier update here noting the spike in Oil prices based on reports that OPEC was to abandon their output increases in October, the price of Brent crude has fallen all the way back, from an earlier high at $74.80. The lack of any further news on this report has probably served to undermine its credibility and once again we see that such news, whilst important always needs confirmation and that is what is clearly lacking right now. So, Brent crude for November delivery has fallen back below $73 once more. In fact it is not that much above the earlier lows seen around $72.65. It just dropped back to around $72.85. It is currently trading at $73.05
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