Brent falls back to approach $82

Yesterday it was the inventory data from the day before that helped to push oil prices lower and eclipse any immediate supply concerns from further escalation of tensions in the Middle east. That dynamic helped to push the price of April Brent down to $80.72. However, it was not long before that was completely reversed and the price shot higher again. Brent later rose all the way back above $83 per barrel and then settled, $1.26 higher on the NYMEX exchange, at $82.86. Earlier today it was unable to reclaim levels above $83 again (82.88 the high so far) and it has been on the drift lower since. That has just now seen April Brent hit a session low at $82.08.