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Brent falling back closer to $73 again
Since an earlier update here on the price of Brent crude it has been falling back further after rejecting a move above $75 per barrel. The fall since then has now taken the price down to the most recent lows once more. Brent for December delivery just now hit a session low at $73.30. If you care to look at a chart of the price action since Tuesday, you will see the number of times it has based out ahead of $73. The lowest point since Tuesday has been set at $73.26. It has just rebounded off the session lows, but naturally the noted basing out price action is at risk not being sustained and if we do see a break below $73.25 from here on, there is a risk of deeper relapse ahead of the weekend. Brent is currently trading at $73.56
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