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Brent extends rebound to above $94 per barrel

On Friday November Brent crude fell back to below $93, basing out at around $92.85, before rebounding again into the NYMEX settlement, where it settled just $0.03 lower at $93.27. It has been on the rebound again so far this morning, rising to as high as $94.25 a short while ago. Once again oil prices seem to be taking a lead from the rebound in the US equity futures and still the demand/supply dynamic is keeping the upside trend intact. It is also worth noting; that pretty soon the November contract will expire and give way to December. Brent is just now trading at $94.10
 

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