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Brent gets a lift from a usual suspect

Yesterday Brent crude prices bounced steadily from an earlier session low at $81.00. One reason behind the move might have stemmed from an upgrade in the price outlook, from the US investment banking giant, Goldman Sachs. They upgraded their summer price outlook to $87 per barrel from $85. However, at the same time they maintained their 2025 price target at $80. The reaction in the markets to this nearer term target increase was noticeable, but of course it might have been coming anyway. So, Brent rose all the way back to just above $83 ($83.07 high) ahead of the NYMEX settlement. It later settled $0.91 higher there, at $82.53 and so far this morning it has been traversing that level. The range seen so far has been covered by $82.32 to $82.94. Brent for April delivery is currently trading at $82.65

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